Posts Tagged ‘nymex crude oil price’

postheadericon A Factor Which Makes Oil Prices higher

These days, the role of oil is indeed getting more important in keeping life going. Every aspect of oil can create any changes, including its prices. There are several factors determining the prices of the oil, which also can be the ones that make the prices go to a higher place. Go to the web site OF Money Morning on to know all the factors

One of the factors is the production process of the oil. To produce oil, diverged types of procedures and processes are used to get different types of oil. The harder the oil is produced, the more expensive its price will get. Two methods of producing the oil consist of the way of drilling the oil completely and the way of dubbing well the oil which leaves the oil drilled but uncompleted (DUC). These two methods are included as the factors which determine the oil prices. As a way of obtaining the oil which is getting more expensive, the drilling method is one of the reasons why the oil prices go higher. Therefore, many companies producing oil are now moving to use the DUC method to suppress the production budget as this way is more affordable than the former.