New Drilling Technology: A Major Leap for the Oil Industry

Chevron recently made headlines by starting oil production from a field with extreme pressure levels — 20,000 pounds per square inch (psi), which is three times higher than what was previously possible. This breakthrough could open up access to up to 5 billion barrels of oil that were previously out of reach.

Oil and Gas…All Eyes on China

Currently, China is in a position to determine the near-term prices of oil and gas by controlling the release of so many people needing to get back to work and in the factories.