Industrial Market Outlook in Review: Low Oil Prices Mean More Business for Storage, Refineries

SUGAR LAND--January 25, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--The global Oil & Gas Industry is facing a massive supply glut that has battered the per-barrel price and reverberated throughout every corner of the economy. Since July 2014, the price has fallen nearly 70%, and is unlikely to significantly improve as long as the Organization of the Petroleum Exporting Countries (OPEC) continues to produce at the current pace, said Chris Paschall, Industrial Info's vice president of research for the Oil & Gas and Petroleum Refining industries, to attendees at the 2016 Industrial Market Outlook & Networking Event in Houston, Texas.

Within this article: Details on how the massive, long-lasting slump in oil prices has affected the production, pipeline, storage and refinery segments across the U.S.