Sep
27
Oil Prices on the Rise Again
September 27, 2023 | | 1 Comment
Global economists are concerned that oil prices will rise above $100 a barrel for the first time in over a year. As of Wednesday, barrels were being traded at $96.50, and experts are saying the prices are only trending up.
Robert McNally, president of Rapidan Energy, told the New York Times this in a recent interview: “I think prices are starting to melt up.” He mentioned that the rising prices can be credited to a reduction in oil production in Saudi Arabia.
Higher oil prices mean the price of all energy will go up as well. This means consumers and businesses will continue to face high payments. For many US consumers this can be seen through rising gas prices, which is why this article is relevant.
This article was well written because it stated the problem at hand, described why the problem was happening, and then got into more details. One criticism that I have for it is that they get into a lot of details about why the Saudis slowed production. There is almost 2 pages of information just talking about what the Saudi leaders have said about the whole situation, and I feel like the audience here doesn’t really care that much about that.
https://www.nytimes.com/2023/09/27/business/oil-price-100-barrel.html
Comments
1 Comment so far
Length is not an issue when you’re online. But because it’s an inverted pyramid, you can stop when you get to the Saudi explanation.