Crude Oil Trading: Where it Began and Future Predictions

Crude Oil Trading: Where it Began and Future Predictions

Crude oil production in Texas grew more rapidly from 2005 through 2014 than anywhere else in the world. This massive expansion of Texas production is making America less dependent on foreign crude and causing significant internal strife amongst OPEC nations. Texas oil producers are sending shockwaves through the global oil market.

I came across this infographic which gives some good background on key oil events in history and puts into context what’s unfolding on the global stage right now relative to oil markets. The last fact on the first graphic is that in 2015 U.S. production reached its highest level in over 100 years — that’s due in large part to the hard work and ingenuity of Texas oil producers and workers.