"Oil subsidy" refers to a financial support or benefit given by the government to the oil industry. It involves providing money or reducing taxes for oil-related activities, such as drilling or refining oil. Full definition
The dip in oil subsidies in 2016, and the higher share of electricity, reflect some short - term price developments but also reveal a new set of challenges to remove them. (iea.org)
Oil subsidies accounted for 40 % of the total, or nearly USD 105 billion, covering an estimated 11 % of global oil consumption. (iea.org)
Because the problem with oil subsidies, is they just don't die. (treehugger.com)