Oil Prices Drop from U.S. Output, Despite Global Gitters

Price per barrel of oil has dropped $25 a barrel or 23 percent in three months to about $85 a barrel.

Lowest average gas prices:

  • The state of Missouri has the slowest gas price at $2.88 a gallon at the pump.
  • The city of St. Louis, Missouri has the lowest gas price at $2.82 a gallon at the pump.
  • Other states with low gas prices include: South Carolina, Oklahoma, Tennessee and Mississippi.

Lowest price per barrel since 2010, implications in the news:

Comments (3)

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  1. Jeong Seo says:

    OPEC is not reducing oil production at the falling demand levels. Effectively, the cartel is testing how low prices must be to make U.S. shale unprofitable. As we become more efficient in domestic production, that floor will sink and sink for OPEC. It’s going to be an interesting Q4.

  2. Santiago Bello says:

    The Chinese economy continues to slow down. Germany, Spain, France, and Italy have continuously subpar indices – reflective of stagnate growth. The largest consumer of oil is enjoying its oil and natural gas boom, and a comparatively more hopeful economy than Europe. It’s no wonder that the price of oil is finally falling. Oil consumption is often used as means for measuring economic activity within an economy… So while this drop has great implications for growth in the American economy, one has to wonder, will America’s economic resurgence (granted it continues) be enough to counteract the global effects of steadily falling international consumption?

    • Jake Sanders says:

      U.S. equities will continue to be undervalued in a secular market if Europe’s central banks can’t drive down inflation.

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