Oil-Price Decline Points to US-Saudi Supply Drama, Not Weak Economy - Bloomberg
Oil-Price Decline Points to US-Saudi Supply Drama, Not Weak Economy - Bloomberg
Surveillance: Low Oil Prices Point to Supply Drama, Not Weakness
Slowdown? What slowdown? The world is slurping 1,200 barrels of crude a second
US shale production — as exemplified by this Pioneer Natural Resources pumpjack near Midland, Texas — is helping flood an oil-thirsty world with additional crude. Photographer: Michael Ciaglo/Bloomberg
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Oil prices have fallen to about the lowest levels in five months, which has set off a raging debate on Wall Street: Is this a good thing or a bad thing for the broader economy?
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Surveillance: Low Oil Prices Point to Supply Drama, Not Weakness
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.