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Why high oil prices are good for oil companies — until they aren’t

A pumping jack is visible at sunrise on Feb. 24, 2025, in Hobbs, New Mexico.

Yes, higher crude oil prices mean a multibillion-dollar cash infusion to the oil industry. But volatility is bad for business, and sustained high prices come with very serious drawbacks.

(Image credit: Julio Cortez)

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Camila Domonoske

in

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