• News Desk

OIL SUPPLY TO RISE WITH PRICES


In true fashion, oil jumped to $50 a barrel again recently. However, as frackers prepare to pump out more oil than ever, investors are asking the important question: is this a false start like last year. In early 2015, oil had recovered a bit when suppliers decided to start pumping out more. However, the extra supply deepened the problem, causing oil to plummet to $26 a barrel. In order to prevent the same thing happening this year, business experts are advising caution. William Thomas, CEO of oil producer EOG Resources, does not believe that oil will repeat the same mistakes as last year, but is still worried about an impending supply glut.

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