Oil Price on the Rise

Oil analysts are announcing that slowing production and falling rig counts may be the beginning of a bull market for oil prices. West Texas Intermediate rose to $45.71 per barrel on Friday, September 25, 2015. The U.S. is the largest crude oil consumer in the world, and the U.S. Department of Commerce reported that the Gross National Product exceeded growth estimates, an indication that oil consumption will support oil prices.