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since it has become increasingly difficult to find and develop new oil reserves in recent years. As a result, the price of oil has a strong influence on international economic development ...

After a horrendous 2015, it's been a a wild ride for the crude oil price so far in 2016. In the first 12 trading sessions of the year ... These three charts, courtesy of Bank of America-Merrill ...

The number of oil rigs dipped by 2—down by 19 compared to this time last year. The number of gas rigs saw a steeper dip, losing 3 rigs to 100 ... time last year. Oil prices were trading up ...