Industrial Market Outlook in Review: Low Oil Prices Mean More Business for Storage, Refineries, an Industrial Info News Alert
SUGAR LAND, TX--(Marketwired - Jan 25, 2016) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The global Oil & Gas Industry is facing a massive supply glut that has battered the per-barrel price and reverberated throughout every corner of the economy. Since July 2014, the price has fallen nearly 70%, and is unlikely to significantly improve as long as the Organization of the Petroleum Exporting Countries (OPEC) continues to produce at the current pace, said Chris Paschall, Industrial Info's vice president of research for the Oil & Gas and Petroleum Refining industries, to attendees at the 2016 Industrial Market Outlook & Networking Event in Houston, Texas.
Within this article: Details on how the massive, long-lasting slump in oil prices has affected the production, pipeline, storage and refinery segments across the U.S.
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Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.
(January 25, 2016 - 7:30 AM EST)
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