The week ending January 30th saw US stocks of light sweet crude rise by 7.2 million barrels, the Energy Information Administration (EIA) has reported, adding further discounts to the price of oil.
It was previously considered that stocks would rise by just 2.9 million barrels.
The price of a barrel of oil rose to $41.17 on Thursday (February 5th), offering businesses a glimmer of hope that oil prices will remain low, but supply chain managers may already be considering ways to remove a company from energy demands.
Despite the low prices no doubt welcomed by businesses in the UK, the volatility of the price of a barrel of oil will remain a worrying factor for many companies dealing with stretched finances during the current recession.
A third-party supply chain management company could offer solutions to a company hoping to reduce the amount of outgoings it spends on fuel and oil, as any company which deals with international freight will hope to stabilise costs.
Supply chain management companies can combine knowledge of both industry and environmental factors to create efficient and green supply chains for companies hoping to add value to their products.
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