What Affects the Crude Oil Prices: An Overview In the early days, finding oil during a drill was considered somewhat of a nuisance as the intended treasures were normally water or salt. It wasn't until 1857 that the first commercial oil well was drilled in Romania. The U.S. petroleum industry was born two years later with an intentional drilling in Titusville. While much of the early demand for oil was for kerosene and oil lamps, it wasn't until 1901 that the first commercial well capable of mass production was drilled at a site known as Spindletop in southeastern Texas. This site produced more than 10,000 barrels of oil per day, more than all the other oil-producing wells in the U.S. combined. Many would argue that the modern oil era was born that day in 1901, as oil was soon to replace coal as the world's primary fuel source. Crude oil plays a major role in any country’s economy and lives of its citizens in general. It not only supplies the fuel for your car ...
E-Commerce Ecosystem in India - Part 2 Continuing from where we left off in the last session , here I will take you through the most commonly used terms in an E-Commerce setup, the Key Drivers of the rise and expansion of companies in this domain and what are the major challenges faced by them on a day to day basis. E-Commerce Glossary : 1. Average Order Value – Total Sales Revenue/Total Number of Orders Taken 2. Bounce Rate - The percentage of people who visit one page on your website and leave without clicking on anything. 3. Gross Merchandise Value (GMV) – GMV is the total value of merchandise sold over a given period of time through a C2C exchange site. This is calculated prior to the deduction of any fees or expense. 4. Call-To-Action - An advertising and marketing concept where you give an instruction to your t...