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Thursday, January 25, 2018

Oil and gas price predictions for 2018

In the interest of being social I decided to offer this:
I was wondering why the price of gas seems to be trending upwards lately and found out some facts:
1. More people are on the roads and this depletes the oil reserves/stockpiles and drives up the prices.
2. Overseas imports on oil are cutting back production to drive up the prices.
3. The cold weather has stopped several refineries from being able to produce especially when people can't get to work.
4. Accidents in the gulf of mexico on a drilling rigs have slowed down production.
5. Wild speculation can drive up the demand/price of oil/gas.
6. Oil stock futures are absorbing all of this and trending the price upwards for 2018.

Of course this is all just my opinion along with some the information gleaned from various websites and analysis. You be the judge and do some research yourself and see if I am right or wrong. In the area of money wise I would say that if you don't NEED to drive then stay at home or carpool. This can save you significantly on gas.