The US Energy Information Administration (EIA) forecasted that the price of oil will remain higher than $100 per barrel in the coming months. These announcements could impact energy markets, particularly the increase in oil...
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On Thursday, February 24, Brent crude jumped to more than $100 per barrel for the first time in more than seven years. Additionally, the U.S. West Texas Intermediate crude soared to as...
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The Biden Administration has already made a profound impact on the industry of oil and gas and has contributed to the rising of oil prices, even after merely a month...
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The United States controlled oil prices and was the world’s largest producer of oil up until the mid-20th century. OPEC, or the Organization of the Petroleum Exporting Countries then ruled...
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Crude oil is a naturally occurring petroleum product extracted from oil wells and is a mixture of gasses and liquids, organic materials, and hydrocarbon deposits. As an essential source of...
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Undeniably, oil remains to be one of the most important commodities worldwide. When converted into petroleum, it is the main energy source used in planes, vehicles, heating, electricity, and asphalt....
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Oil prices, as well as the balance of supply and demand in the crude oil market, is influenced by oil inventories. One of the fundamental concepts of economics is the...
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From asphalt to plastics to fuel, oil is the king of commodities that is used in many different ways. As an economic powerhouse, the oil and gas industry and the...
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Shale extraction of oil and gas has lessened the need for the United States to import, helping the economy immensely in the form of investment, jobs, and growth. Oil exploration...
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Also referred to as “black gold,” crude oil is considered one of the most precious commodities on a global scale. Changes in its price have the power to affect the...
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