Oil price

Weekly Update

An Overview of Oil

Published July 7, 2017


Since hitting $55 per barrel at the beginning of the year oil prices have steadily declined to a price around $45 now. This tumble below $50 marks a point where some newer wells might be unprofitable. Nevertheless, U.S. supply of oil has been surging higher for years now upsetting the decades-long dominance of OPEC oil nations and remaking the global oil market. (more…)