The oil and gas industry is one of the biggest and most storied industries in the world. In recent years, the oil market has fluctuated quite a bit, and the oil industry is constantly changing with it.
The oil industry began in the United States in the 1800s. The first pipeline was built in 1865 after oil was discovered in Pennsylvania. Today, America ranks third globally in crude oil production, trailing Saudi Arabia and Russia. About 45% of crude oil is made up of gasoline, thus linking the two industries and making them a global powerhouse.
To get an idea of how fickle the oil market can be, consider the week of Dec