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Oil Production’s Effect on the Economy

Jim Glassman, Commercial Banking’s Head Economist, explains why the US could benefit from foreign producers curbing their oil output.
Jim Glassman, Head Economist, Commercial Banking
August 25, 2017

The oversupply of oil appears likely to dry up as global energy needs rise and foreign oil-producing countries curb output. US producers have already begun to benefit as a result. Although consumers could pay more at the pump as crude prices stabilize, increased domestic production means that a greater share of fuel prices could return to the US economy as capital investment.

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