Latest Breaking News On - J greg sargent - Page 1 : comparemela.com
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Two major natural gas developments were announced in the Permian Basin as fossil fuel market continued to recover from COVID-19 pandemic with oil prices crossing the $50 per barrel threshold for the first time since the health crisis began in early 2020.
In April 2020, just months after COVID-19 was discovered in the U.S., the resulting health crisis and travel and business restrictions led to an historic decline in fuel demand and the price of oil plummeted below $0 per barrel for the first time in history.
The market struggled to recover throughout the rest of the year, climbing to the $40 to $45 range but unable to cross the $50 per barrel mark most operators require to be profitable.
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