While it's been a troubled ten months for the oil and gas sector in terms of prices there does, at last, seem to be some indications that the steady reduction in active rigs is coming to a close for the first time in more than a year. In fact, last week showed the number of active gas and oil rigs in the U.S. increasing for the fifth straight week.
Hot Shot Trucking News Update Volume Two
Welcome back to the latest edition of Hot Shot Trucking news, our regular look at the issues that matter in the world of hot shot trucking, urgent freight, nationwide trucking companies and the oil and gas production industry sector that we support. We'll cover some of the stories that you may have missed as we examine news, data and trends that impact the industry overall. Our first edition if you missed it is here and you can click on the red link(s) to read more in each summary.
U.S. Crude Oil Production Projected to Grow in 2015
The rapid decline in crude oil prices seen recently has led many observers to wave red flags about an impending massive reduction in domestic oil production, a sector that is greatly reliant on hot shot trucking services. However when reviewing recent data released by the U.S. Energy Information Administration (EIA) reports show that crude oil production in the United States is projected to grow during 2015.