Oil Check

  • Why is OPEC + continuing production through oil prices crash? The first industries to be visibly affected by the spreading COVID-19 appeared to be travel and tourism. Then other industries began to feel the pressures of declined manufacturing activity in China. And suddenly, in the span of a week, we saw oil prices crash to…

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  • What is Crude Oil and Where is it Found? When we release an oil check, it’s usually a response to a potentially market disrupting event. Natural disaster or armed conflict, we share speculations on the repercussions. Specifically, how they could impact both your company and employees’ fuel expenses. This oil check is a little different….

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  • With gas prices rising, is the Iran conflict to blame? U.S. – Iran relations haven’t been great over the past year. Sanctions and conflict with oil tankers in the Persian Gulf region have scattered gas-price projections across the board. Tensions reached new levels when the Trump administration launched a drone strike against General Solemani of…

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  • Saudi Oil Supply Disruption and Its Impact In previous Oil Checks, we floated the likelihood that the price of oil would rise this summer. Several circumstances, from dipping demand in global shipping and manufacturing sectors, to ever increasing U.S. production, kept gas from becoming overly expensive. Now that the summer driving season is coming to a close, tensions in one…

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  • What Happened to OPEC+ Production Cuts Raising Gas Prices? Checking back in on oil, you may have noticed a few things. The price of gasoline has been climbing, but not quite as fast as we projected in our previous oil check. So what’s happened? And what hasn’t? Did sabotage, tensions and ship seizures in the…

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  • Iranian Oil Production Projected to Plummet as Middle East Tensions Rise The days of under three dollar gas may soon be gone. In a previous Oil Check, we mentioned the likelihood that the United States would end waivers allowing countries to import Iranian oil, raising crude oil prices and allowing OPEC to increase their own…

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  • Will OPEC stabilize the price of oil and lead to more consistent oil futures? Our last oil update came after OPEC and OPEC+ agreed to cut oil production. This combined effort followed the price dive caused by Iran’s continued—and unexpected—production of oil. Increasing demand by decreasing supply is simple economics. However, oil is never simple…

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  • How will oil prices following the surplus affect gasoline prices? We’re almost a month into the year and the question stands: what are gas prices going to look like in the coming year? Given the recent oil surplus and economic uncertainty, predictions are all over the board. We have a yearly average of $2.47 predicted…

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  • Oil Market Oversupply and Its Ramifications Remember how high gas prices were less than a month ago? Now a trip to the pump is far less painful. What happened that pushed the price down, besides another indication that the oil market is ever shifting and far from predictable? Well, in short, oil market oversupply. Oil…

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  • Trends that Contribute to Oil Market Volatility As mentioned in the previous Oil Check, the price of gas depends on a number of factors. Supply and demand has a large impact. Luckily for suppliers, demand outlook remains strong. But demand also depends on multiple factors that track with the state of the global economy. If…

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