Sentences with phrase «oil prices crashed because»

Not exact matches

But he said the company delayed because of the «oil crash,» when falling oil prices caused the stock markets to briefly tumble.

GDP grew by 0.55 percent in the second quarter of the year, which, although a meager growth rate, was welcomed because it signaled Nigeria's exit from the recession that it plunged into due to the oil price crash.

Ben Luckock is in fact so bullish that he forecast demand could exceed supply of crude oil by 2 - 4 million bpd by the end of 2019 because of the US$ 1 - trillion in spending plans that never saw the light of day as a result of the 2014 price crash.

The city already suffered a labor shortage because so many construction workers left during the housing crash and again when oil prices slumped.

One small group thinks that lower for longer could end soon because U.S. shale can't keep a lid on prices forever and can't catch up with expected robust demand — all the more so that investments in conventional supply around the world have slumped since the oil prices started crashing.

The crash in prices meant that shale drillers moved on to greener pastures, and most of them began looking for oil rather than gas because crude fetched $ 70 to $ 80 per barrel.

Ngige argued that this country entered recession a long time ago before the Buhari government came on board but nobody noticed it because of the huge foreign reserves accumulated by former President Olusegun Obasanjo, which has now shrunk to $ 21billion as a result of the crash in oil prices.

Chevron (CVX) Because of the oil price crash over the last year, the great oil companies have all been negatively affected.

Vancouver shot up the ranking due, in part, to how hard other cities were hit by crashing oil prices and because its economic fundamentals are strong.