Oil Prices Might Fall

Oil Prices Might Fall

It has been recently revealed in a report that the oil industry has planned to decrease the prices of gas. This means that there can be more oil production in the time to come, on a domestic basis. There shall be no extra taxes to be borne by the refineries and this is sure to help the price of oil to come down in the near future.

This shall help the commoner in the time to come too. The analysts are however of the view that this shall mean very little support for lowering down the rates of fuel in the short term.

"We are seeing a general rebound in commodity prices after yesterday's price decline - it is not just oil that is up, base metals are up as well as market sentiment stabilizes", said Carsten Fritsch, an energy analyst at Commerzbank in Frankfurt.

There is need for further research and development to be done in the matter so that everything can be considered well by the authorities before reaching a final decision on the matter. This shall help them in making the necessary changes in policies to make them flexible and worthy for the people as well as authorities in the near future.

General: 

Popular Stories

Dr. Mark Wainberg dies after struggling in waters off Bal Harbour, Fla.

Famed microbiologist Dr. Mark Wainberg, who played... Read More

Microsoft patches NSA’s leaked Windows hacks

Microsoft Corp. has claimed that it has already... Read More

Las Vegas to offer clean needles through vending machines

Struggling to fight back soaring heroin and HIV... Read More

Nintendo announces new games for Switch

During the most recent Nintendo Direct, the mobile... Read More

Decomposed bat found inside package of salad: officials confirm

Fresh Express is recalling a limited number of... Read More

Future Google Pixel phones may feature curved screens

Tech giant Google Inc. has plans to introduce a... Read More