If you have read any of our blogs here at Guttman Energy, you may have noticed the word or acronym OPEC thrown around a handful of times. What exactly does it mean? How long has it been around? Who is a part of OPEC? These are some questions that will be answered today.
petroleum industry terms
On May 22nd WTI Crude nearly reached $73 / barrel and since then prices have dipped almost 10%.
The US economy is growing and so is the population, both of which are leading freight companies of all types to see increased growth in the number and weight of goods shipped around the country. Truck load (TL) freight volumes increased 2.8% in 2017 over 2016 which is far higher in comparison to 2016 versus 2015. Fourth quarter of 2017 for TL alone was at 7% growth year over year.