Oil Check

  • 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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  • What is Crude Oil and Who Are the Top Producers? To kick off our first Oil Check post, we’re going to give a bit of background information on what goes into the price of gas and the top crude oil producers. We’ll start with the cost. Supply and demand are major factors. If the global…

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