Results for tag: "Tight Oil"

Tight oil, also known as shale oil, is a type of crude oil found in shale and other low-permeability rock formations. It is extracted through a process known as hydraulic fracturing, or fracking, which involves injecting a mixture of water, sand, and chemicals into the rock formation to create fractures that allow the oil to flow. Tight oil has become increasingly important in the oil market in recent years, as it has allowed for the extraction of oil from previously inaccessible sources. Tight oil production has been a major factor in the recent increase in global oil production, and has helped to offset declines in production from traditional sources. It has also been a major factor in the recent decline in oil prices, as increased production has led to an oversupply of oil in the market. Companies in the tight oil market include ExxonMobil, Chevron, Royal Dutch Shell, BP, and ConocoPhillips. Show Less Read more