Price volatility has slowed
After a wild first quarter, crude prices are steadily climbing, report shows.
The price volatility issues that plagued the oil and gas industry at the beginning of the year has abated, according to the U.S. Energy Information Agency.
"Crude oil price volatility has declined since its peak in March," EIA officials said in a press release May 10. "Prices have risen as concerns about future economic growth have abated and as inventory growth has slowed since the start of the year."
That was not the case at the beginning of the year, EIA officials noted. "During the first three months of 2016, crude oil prices were relatively more volatile than in recent history. This elevated volatility occurred when overall oil prices were low, and volatility was driven by high uncertainty related to supply, demand, and inventories."
– Edited from an Energy Information Agency (EIA) press release by CFE Media.
Original content can be found at Oil and Gas Engineering.
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