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How oil prices affect hotel demand in some markets

from Hotel News Now

As the oil future price hovers around $50 per barrel, oil-dependent submarkets are facing continued slow performance. Between 2010 and late 2015, oil production in the U.S. increased 76 percent to 287,081 barrels per month, annualized. In early 2015, the oil price future per barrel dropped to around $50 and has not recovered since then to its earlier high of more than $100 per barrel. more

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