The most recent WTI drop of 2.9% is the largest in a month. Supply versus demand continues to be a curious topic that is the main driver of the current crude oil situation. Oversupply of crude oil in 2020 continues as just in the past few days in the North Sea there are a combined […]
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The COVID-19 pandemic has been particularly tough on the oil industry, and it appears as though the impacts will be felt well beyond the immediate future. According to BloombergNEF, peak fuel demand will come sooner than previously predicted, with gasoline demand peaking in 2030 and on road diesel demand peaking shortly after in 2033. While […]
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According to a global energy industry forecast, oil growth will continue to soar until the 2030’s and climate-damaging emissions will keep climbing until at least 2040. The World Energy Outlook is not only closely watched by the oil industry but also the governments due to its relevance to climate policy. The International Energy Agency said […]
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There is a new land grab in the Permian Basin that may ease the bottlenecks of oil producers in the west Texas region. Oil Producers pump frac sand and other materials into wells to break up shale rock in order to produce oil. These wells are getting longer and wider which increases the amount of […]
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Oil prices are lower this morning sparked by increasing trade war fears between China and the U.S. after President Trump sought to impose another $200 billion worth of tariffs yesterday.
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On May 22nd WTI Crude nearly reached $73 / barrel and since then prices have dipped almost 10%.
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The US economy is growing and so is the population, both of which are leading freight companies of all types to see increased growth in the number and weight of goods shipped around the country. Truck load (TL) freight volumes increased 2.8% in 2017 over 2016 which is far higher in comparison to 2016 versus 2015. […]
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