Oil Production is Booming, But So are Bankruptcies

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Bankruptcies in the Oil IndustryOne of the biggest shifts in the U.S. economy in recent years is the drastic increase in oil production. The U.S. has increased oil production more than 60 percent since 2013, to more than 12 million barrels per day. While the U.S. once had to import most of its oil, it’s now the world’s largest oil producer.

This seems like it should be great news for the U.S. economy. After all, oil drives so much of the economy in industries from transportation to hospitality. However, there can be a downside to all this growth. Whenever we see a spurt in growth, there are losers as well as winners. There’s also been a recent cutback in oil production that many businesses weren’t prepared for. While the oil industry as a whole is still strong, there have been quite a few bankruptcies in the oil industry recently.

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Assistance for Black & Decker Freight Providers Amid IPS Worldwide Bankruptcy Filing

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4 Leading Trucking Industry Trends to Watch For in 2019Riviera Finance, a nation-wide freight bill factoring company can help freight providers for Stanley Black & Decker affected by the IPS Worldwide bankruptcy to get paid on their current invoices.  Riviera will guarantee the credit of any invoices they purchase so the carrier can eliminate credit risk and will be paid within 24 hours of verified delivery.
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