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The prospects of limited growth in non-OPEC production, and the expected start of economic recovery later this year, that should increase oil consumption and the demand for OPEC oil, are the main factors supporting the upward price path. In other words, it appears that oil is recovering from the low points and we are beginning in the long awaited upswing.
North America is the birthplace of the oil and gas industry. After nearly a century and half, the industry now finds itself at a crossroads. Oil and natural gas prices have dipped significantly from the highs of July 2008. Although price have fallen in the past, there is a growing consensus among analysts that the current situation is not a transitory feature of the market.
North America is the birthplace of the oil and gas industry. After nearly a century and half, the industry now finds itself at a crossroads. Oil and natural gas prices are at record highs, and although price spikes have occurred in the past, there is a growing consensus among analysts that the current situation is not a transitory feature of the market.