The two months since the Organization of the Petroleum Exporting Countries’ (OPEC) historic agreement to stabilize the market by cutting crude production for the first time in eight years have witnessed the price per-barrel almost doubling after dropping to a low of $26 in the prior February. In Greater Houston, the focal point of U.S. oil production, the deal has boosted the industry out of a two-year downturn and jumpstarted local economies. Texas real estate authority and CEO of Western Rim Property Services, the state’s most renowned luxury property developer, Marcus Hiles suggests that as Houston based energy companies continue to expand in 2017, communities across the metropolitan area will see higher employment rates and further wage hikes.

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