Oil prices drop on waning optimism over demand
Wednesday, November 16, 2022
Oil prices settled at the lowest price in nearly three weeks on Monday, driven by waning optimism over demand, according to Rigzone.
West Texas Intermediate futures dropped 3%, falling below $86 a barrel. Broader markets also fluctuated as traders anticipated what path the Federal Reserve will follow on subsequent rate hikes.
Additionally, oil and gas companies fracked fewer wells than they drilled for the first time in two years, which points to pessimism about the demand outlook going forward.
Learn more: Rigzone > Oil prices down on demand outlook concerns
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How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.