The month of August is the midpoint in the third quarter of 2022, with oil pricing as of this writing (mid-July) at $103.88 for WTI and $105.77 for Brent — still in the $100 range but down from record highs.
As we begin the last month of the first quarter of 2022, WTI (as of this writing) is at $91.35/barrel, Brent is at $ 92.72/barrel, and the Biden administration continues its campaign to limit oil and gas exploration.
Pipeline Updates, Oil and Gas Spending, and Supply Chain Woes. The outlook for construction is a slow but steady path to recovery. Modest economic growth should continue as the year progresses; however, challenges with labor, materials and inflation will persist.
By the time this article is published and The Wholesaler magazine is delivered, we will be midway through the fourth quarter of 2021. The PVF industry continues to face many uncertainties, as mentioned in last month’s column.