Skip to navigationSkip to content

Oil prices are falling—again

An oil derrick is seen at a fracking site for extracting oil outside of Williston, North Dakota.
Reuters/Shannon Stapleton
The oil bust is taking its toll.
By Melvin Backman
Published Last updated This article is more than 2 years old.

Just when it looked like oil was staging a comeback from its lowest levels this decade, everyone remembered how much of it is still getting pumped out of the ground. And now prices—especially for U.S. benchmark West Texas Intermediate—are tumbling once again. It’s almost like US commercial crude stocks are the new rig count.

📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

By providing your email, you agree to the Quartz Privacy Policy.