Why Oil Prices Aren’t Coming Down Despite Big U.S. Oil Boom

The U.S. oil market is subject to a complex web of forces, some domestic and some global – and most of them are pushing oil prices higher.

Increasing U.S. oil production, as it turns out, has helped reduce U.S. oil imports, but it’s global demand that determines how much the black gold costs.

While fuel demand has dropped in the U.S., it’s risen 28% in China over the past five years.