Marcus Hiles On Why Houston Energy Firms Will Have Strong 2017

Marcus Hiles On Why Houston Energy Firms Will Have Strong 2017
Marcus Hiles On Why Houston Energy Firms Will Have Strong 2017

The historic agreement from the Organization of the Petroleum Exporting Countries’ (OPEC) to stabilize the market by reducing crude production for the first time in eight years happened two months ago, and per-barrel prices have almost doubled after tumbling to a low of $26 in February of last year. In the Houston area, the heart of the U.S. oil industry, this agreement has accelerated the industry’s recovery from a two-year lag and kickstarted local economies. Marcus Hiles, Texas real estate developer and CEO of Western Rim Property Services, the state’s largest affordable luxury property firm, predicts that as Houston’s energy companies continue to hire and grow in coming months, communities throughout the region will benefit from higher employment rates and corresponding wage increases.

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