Oil inventories rise resulting in price decline

Oil Inventories Rise Resulting in Price Decline


Crude oil prices dropped below the $60-per-barrel mark last week signaling that there is an oversupply. Crude oil closed at $59.09 per barrel on the New York Mercantile Exchange on Wednesday after reaching a high of $70 earlier this year. Stocks of oil throughout the U.S. have increased 8 percent…

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Alex Mills is the former President of the Texas Alliance of Energy Producers. The Alliance is the largest state oil and gas associations in the nation with more than 3,000 members in 305 cities and 28 states.


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