WTI Crude
48.61
Brent Crude
50.78
Natural Gas
3.24

In new boom, oil companies say they’re not likely to go back to old ways

Facebooktwitterlinkedininstagrammail

The oil industry’s history is punctuated with boom-and-busts cycles that create and erase fortunes and drive economies.

That sector is tentatively emerging from the worst downturn since at least the 1980s. Oil prices hovered around $100 per barrel in 2014 before dropping by half just months later, a level where they remain. A year ago, prices dipped below $30 for the first time since 2003, according to the U.S. Energy Information Administration.

Much like the recovery from the Great Recession a decade ago, oil’s bounce back has been hesitant. Experts say technology, slower demand and a more cautious approach by oil patch executives and bankers could – at least in the near term – give the industry a leaner look.

CLICK HERE TO READ THE FULL ARTICLE BY THE PUBLISHER


Written by Jeff Mosier for DallasNews.com

News Article Email Sign-Up
Sending
Facebooktwitterlinkedininstagrammail