The Oil & Gas Producing Industry in Your State
The year 2003 was marked by international events that brought little respite to an industry endeavoring to find equilibrium since the events of the previous two years. Prices reached 20-year highs for oil and natural gas. Record nominal prices would follow geopolitical instability in Venezuela and Nigeria and conflict in Iraq. These international events influenced global markets and flowed to the U.S. where demand was continuing to build with a robust economy, especially after the fallout in 2001.