Crude Oil Prices Rise 12.3%

Price of Crude Oil Rises to $29.44 a Barrel

The price of one heavy-ass barrel of crude oil rose 12.3% on Friday to $29.44. On Thursday, the price of crude oil was at its lowest since 2003 when it fell to $26.05. I must say, it's really annoying when comparisons are made to other years' prices, especially when percentages are used.

So, what does this all mean for you? Not much, unless you play the stock market or you're related to former big business puppet George "Halfwit" Bush. He and his family would be happy if you wouldn't mind going overseas and dying for oil. Didn't you get the memo?

The reason that crude oil prices rose by $3.39 per barrel in one day is an OPEC lover from the United Arab Emirates said that they are finally thinking about cutting production. That could just be a lie, and you shouldn't be surprised if it is. OPEC member countries need to sell a barrel of crude oil for $80 if they want to make a profit. We should all shed a tear for every last one of the oil bigwigs in the Middle East. 

Stocks of many varieties have been getting sold off at an astonishing pace because too many traders are afraid of their own shadows... and low oil prices. 

The stock market has been doing very poor since the beginning of 2016, but it will correct itself. Don't forget that oil companies' spring maintenance season is coming soon, and that alone will make the prices at the pump jump by about 33 cents per gallon. If that official from the United Arab Emirates wasn't lying and OPEC members do cut production, prices will begin to rise even more. However, OPEC overproduced at such a high level that you can expect low gas prices for another year. They won't stay as low as they are now, but you can afford to pay a little bit more for gas because you're rich.