Sunday, June 26, 2016
There is a saying that a crisis is too good a thing to waste. That’s been true these days of the oil industry, which has taken the downturn in oil prices as a way to push operational efficiencies and new technologies to improve how they operate. As S&P Global...
Read more
Monday, June 13, 2016
The 13 members of OPEC decided against making any policy changes during its most recent meeting earlier this month, dismissing calls from some members to institute a production cap in an effort to get oil prices to climb once again. Instead, OPEC members will continue to produce as...
Read more
Wednesday, April 20, 2016
Despite efforts to reach a deal for a worldwide supply cap, the absence of a key country at a recent OPEC meeting created a meltdown in negotiations, causing the price of oil to remain on the low end. All parties were on board to support the deal, which...
Read more
Monday, March 28, 2016
The past year has seen the lowest gas prices in more than a decade as some areas have seen prices well below $2 a gallon. As spring approaches, though, the price of gas is expected to climb again, regardless of the supply and demand factors that originally drove...
Read more
Wednesday, March 23, 2016
Oil prices hit highs for the year last week as the price of a barrel climbed above $40, helping rally what has been a slumping oil market. The climb in price comes as suppliers are hopeful that foreign oil products will strike an agreement next month to reach...
Read more
Sunday, February 14, 2016
The dramatic drop in oil prices continues to cause problems for the industry as a whole, with the latest cause for concern centered on storage. As Market Watch reports, the storage tanks in Cushing, Oklahoma, which serve as a delivery point for the New York Mercantile Exchange crude...
Read more
Monday, January 18, 2016
If you gone to fill up your gas tank recently, you’ve surely noticed that gas prices are continuing to drop. This decline is tied to the dropping cost of oil, which has, in turn, started to put a serious strain on the oil industry. Market conditions have declined...
Read more
Wednesday, January 13, 2016
It’s no secret that recently gas prices have taken a tumble. Now no one is complaining about having to pay less at the pump, but if you are wondering why prices are as low as they are, it’s because we’re experiencing a surplus that is causing quite a...
Read more
Tuesday, December 15, 2015
As we all know when it comes to the oil market, things change quite frequently. One week filling up your gas tank can cost $4 per gallon, while it can be less than $2 for a gallon just a few months later. These fluctuations have not been good...
Read more
Saturday, October 24, 2015
OPEC has much less to do with the oil market than most might realize. OPEC's problem is it let prices stay as high as they did for so long. This allowed new competition to the market from outside its cartel, namely from US oil and newly-tapped fracking reserves....
Read more