The last few years have been strange for the oil industry. There hasn’t been a downturn as lasting since the 1990’s and while many are hopeful that prices will soon not only recover but actually boom, a healthy dose of skepticism lingers as it seems like the bounce back is taking longer than expected. Experts […]

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The Organization of Petroleum Exporting Countries or OPEC, has had a say in global oil policies and prices ever since its inception in 1960.  The organization is home to the biggest petroleum producing countries and until recently it had immense power in determining just how much one barrel of crude would cost and the effects […]

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It is no secret to anyone that oil prices have been changing dramatically recently. Different political situations are taking place worldwide and oil prices seem to be more unstable than ever. Multiple threats to the use of oil pop up every day, such as wars between nations and environmental problems. One thing that not many […]

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Oil dependency is still alive and kicking.  While prices have fallen over the last couple of years, there is still significant demand for oil.  Many companies still need oil to produce some of their products and gas stations are usually pretty busy.  Alternative sources of energy and fuel may be gaining some ground, but their […]

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Petroleum policies around the world need to be regulated, so petroleum exporting countries all work under the same parameters. To keep things even, two organizations have been created worldwide: the OPEC and the OAPEC. The Organization of Petroleum Exporting Countries or OPEC and the Organization of Arab Petroleum Exporting Countries or OAPEC are in charge […]

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So, anything interesting in the news lately?  Oh yeah, Venezuela just had a vote to instate a National Constituent Assembly that will change the political map of the country and which will likely lead the country into a dictatorship.  That’s not all.  Besides leaving more than a dozen deaths, Sunday’s vote could prove to be […]

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As of 2015, the oil industry has experienced many changes. But those changes have been mere downturns mostly if they were to be compared with the eventualities that took place during the golden days: the 1990s. But, after taking a closer look at the history of these behaviors, it is possible to assert that after […]

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Nowadays, there is a huge turmoil related to oil production in the world. The market has gone crazy, the OPEC is taking measures to help the oil prices go up, and there is a general feeling of uncertainty related to what may happen in the near future with oil. As we have seen, thanks to […]

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The case for Venezuela is astonishing, to say the least. How can a country with the largest proven oil reserves in the world be going through some of the most crippling economic crisis ever seen? Venezuela is a country in crisis and while protesters are being killed for opposing the government and citizens are fleeing […]

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In September 1960 the Organization of the Petroleum Exporting Countries or OPEC was founded. The organization’s founders were five different developing countries that aimed to unify the prices and policies of oil, regulating the way it was produced and sold to other nations. These five countries were Iraq, Iran, Kuwait, Venezuela and Saudi Arabia, and […]

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