When the price of oil shoots up, the price for everyone else increases
Young living oils (YOLs) are expected to benefit from a surge in crude oil prices, according to the oil futures market operator BHP Billiton.
In a statement to investors, BHP said that the oil prices in the US have shot up over the past 24 hours, causing a spike in demand for YOLs.
The price of YOL is expected to increase by more than 1,200% in the next 24 hours according to BHP, leading to a 10% increase in oil prices across the globe.BHP said in a statement that it expected the price to reach $150 per barrel on Monday and $200 on Tuesday, making the price a premium over Brent crude oil, which is priced at $52 per barrel.
Young Living oils (YLOs) are a type of oil extracted from sea buckthorns that are used in a variety of cooking and baking products, including cakes, cookies and cookies.
Billionaire investor Warren Buffett has been one of the biggest advocates of the oil sands industry, and in January 2016 he sold the bulk of his stake in the company, calling it “a bad idea”.BHP says the YOL market has already seen a 20% increase from January 2016 to December 2017, with YOL demand continuing to rise.
Bilal Khashoggi, head of global oil markets at BHP’s US division, said that as prices of oil rose, the oil industry has already shifted to focusing on developing the technology and refining it to produce more oil.
Khashoggi said in the statement that BHP expects oil futures markets to become more robust as more companies are able to enter the market, creating demand for these commodities.
Bild, the German tabloid, reported on Sunday that a BHP employee told a shareholder that oil futures are “a good opportunity for us”.
Bilalti said that companies can now focus on refining the technology that produces the oil, while developing the refining infrastructure.
Young living oils are one of four oil products produced in the oil and gas sector, along with condensate, methanol and liquid natural gas.