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The price of oil is currently undergoing a major decline but it is nothing compared to other famous oil slumps in history. Let’s take a look.
Composition and commentary*** is from VisualCapitalist.com (How Does the Recent Oil Slump Compare?); the crude oil graphic* is from BusinessTimes.com (Big drops of oil) and the U.S. crude oil production chart** is from BusinessInsider.com (US oil production is still going through the roof).
Historical Crude Oil Price Corrections
U.S. Crude Oil Production
Oil inventories have reached 80 year highs thanks in large part to U.S. crude (shale) oil production which is shown in the chart below** from Business Insider’s Chart of the Day.
[The above article is presented by Lorimer Wilson, editor of www.munKNEE.com and www.FinancialArticleSummariesToday.com and the FREE Market Intelligence Report newsletter (sample here – register here) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. This paragraph must be included in any article re-posting to avoid copyright infringement.]
Sources:
- *Original crude oil graphic from: http://www.businesstimes.com.sg/sites/default/files/attachment/2015/01/13/140115_crude_oil_graphic.pdf;
- **Original US crude oil production chart from: http://www.businessinsider.com/markets-chart-of-the-day-february-4-2015-2;
- ***Post composition & commentary from http://www.visualcapitalist.com/recent-oil-slump-compare/
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