Posted by Davd Oliver on 3/6/2017 to Market Sectors
IncSmart Texas (Small Business and Startups) - In two years the price of oil has fallen from $100 a barrel to below $30 a barrel in 2016. The prices of increased somewhat to $50 a barrel. By late November, the bottom had fallen out of the oil market. This affects all industries related to oil as well as families who work for the oil industry. Service companies such as heavy equipment rentals, drilling materials and well services. Personal bankruptcies in Texas trail corporations by two years.
North Dakota is now the nation's fourth-largest onshore oil producer, was on is its way to more than 1 million barrels a day, rankings close to Texas. The questions remain, will the Trump oil pipelines help the industry. Saudi Arabia has also announced it wouldn’t support the oil prices by cutting its oil production.
By David Oliver
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Texas Corporations and Texas Limited Liability Companies. When you call, email, text, message or live chat with our office, expect personal attention. Small business is the heart of IncSmart. #incsmart
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