Crude Oil Prices Continue to Decline

Well this is good economic news.

Crude oil fell to the lowest price in almost two months after Iran, OPEC’s second-biggest oil producer, said it would stop enriching uranium to ward off U.S. calls for sanctions.

Still there are long term problems the U.S. needs to face in terms of fuel production. The lack of refinery capacity and the regional fuel requirements that help keep prices high.

FILED UNDER: Economics and Business
Steve Verdon
About Steve Verdon
Steve has a B.A. in Economics from the University of California, Los Angeles and attended graduate school at The George Washington University, leaving school shortly before staring work on his dissertation when his first child was born. He works in the energy industry and prior to that worked at the Bureau of Labor Statistics in the Division of Price Index and Number Research. He joined the staff at OTB in November 2004.