Getting prices down could be complicated. Supply from Iran is already at two-year lows, and new U.S. sanctions on the country are set to go into effect in November.
If you’re wondering why airfares are relatively low at the moment, the answer is that there are a lot of inexpensive seats being offered by what’s called “ultra-low cost carriers.” Those fares from airlines like Frontier and Spirit are keeping the market competitive for bigger airlines, and passengers are benefiting. But with rising oil (and, […]
OPEC meetings are underway in Vienna, and for now, indications are that oil-producing countries will agree to lift some of the production limits they set 18 months ago. We look into how any changes out of the OPEC summit could ripple through the global economy. Click the audio player above to hear the full story.
Every time we pull into a gas station, we see the effect of rising global oil prices. Airlines are getting a bit of sticker shock, too, when they fill their planes with jet fuel. Crude oil is up close to 50 percent in the past year, which is likely to cut into profits and lead […]
Prices for West Texas crude oil are hovering around $65 a barrel. That’s more than twice the price at this time just two years ago. Oil companies, including major players like Exxon Mobil and Chevron, have let investors know they’re increasing production, specifically in Texas’ Permian Basin, where output has tripled in the past three years. […]
