Fri, Mar 6, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Oil, Price Watch more

Without shale, oil prices would be a lot higher

Posted on 15 October 2013

Unheralded and unnoticed, American oil producers are helping stabilize global oil prices, which would be a lot higher if new U.S. oil supply, mostly from shale, weren’t reaching world markets. Public attention usually focuses on shale from the perspective of local business benefit or environmental concern. Holding down prices doesn’t figure as a benefit but it’s a story worth telling.
Even with Saudi Arabia pumping oil at its fastest clip in decades, oil prices remain stubbornly high. For example, the world’s oil benchmark, Brent crude, recently hovered above $110/barrel. And it’s now been more than 1,000 days – a record – since U.S. gasoline prices were lower than $3/gallon………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 39533 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
March 2015
S M T W T F S
« Feb    
1234567
891011121314
15161718192021
22232425262728
293031