What is the oil industry?

As oil production and refining increased, prices collapsed, which became characteristic of the industry. The first oil corporation, which was created to develop oil found floating on water near Titusville, Pennsylvania, was the Pennsylvania Rock Oil Company of Connecticut (later the Seneca Oil Company). read more

2018 Oil and Gas Industry Outlook Download the PDF John England's take on 2018 It’s been an interesting 2017 as the news cycle has been dominated by politics, natural disasters, and tense geopolitical challenges; also, the oil market is still challenged by high stocks and sluggish prices. read more

The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transporting (often by oil tankers and pipelines), and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). read more