Forbes contributors publish independent expert analyses and insights. Robert Rapier is a chemical engineer covering the energy sector. LOS ANGELES, CALIFORNIA - MARCH 03: High gas prices are displayed ...
Yes, higher crude oil prices mean a multibillion-dollar cash infusion to the oil industry. But volatility is bad for business, and sustained high prices come with very serious drawbacks.
No single country, company or group sets oil prices. Instead, prices are determined through global trading. According to the U.S. Energy Information Administration (EIA), millions of buyers and ...
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