Sentences with phrase «as oil prices crashed»

Lawmakers started missing that lost money as oil prices crashed and state budget gaps widened.

Not exact matches

For that, Canada could thank the sharp resurgence in oil prices that followed the 2008 crash as well as the boom in residential home construction.

An oil price crash and an unemployment rate that spiked to nine per cent last year did not cause the residential real estate market to crater, as some feared.

Foreign exchange has been an area of some concern for Saudi in recent months as the crash in the price of oil forced the country to expend its FX reserves to levels not seen in over three years, and draining the country's economy.

Brent crude oil prices in the first three months of this year averaged around $ 67 a barrel, leaving last year's $ 54.5 behind as a distant echo of the price crash of late 2014.

Armed with such results, Shell and Total are in payback mood to investors, buying back shares after diluting stakes with scrip dividends - consisting of shares rather than cash - introduced after the price crash which sent oil prices as low as $ 28 a barrel.

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.

Today, Russia is similarly hemorrhaging capital as a result of international sanctions and crashing oil prices, prompted by both the American shale oil boom and OPEC's inaction in stabilizing the commodity at last month's meeting.

Oil prices crashed in 2014 as supply increased and demand dropped.

If not, the company could drill itself into another hole, as it did before oil prices crashed a few years ago.

I see Notley as trying her hardest to provide services through the oil price crash while at the same time setting the stage for a transition to renewables.

However, with oil prices now at six year lows investor fears and uncertainty have sent share prices crashing by as much as 64 % in the last six months.

Short - to - medium - term cash flow stabilized by attractive and profitable contracts While demand for frack sand is likely to decline due to the crashing price of oil, there is cause for optimism that the decline in demand might not be as severe as the overall decline in new oil drilling.

In the area of economy, this is a government that came when oil prices crashed, but as a result of various economic measures taken by this government, we are out of recession.

She said the Nigerian economy, including the banking sector, was facing various kinds of risks as a result of the challenges of high inflation, naira depreciation, oil price crash and decline in manufacturing output.

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.

There are striking parallels between Buhari's first stint in power as military dictator and his current democratic presidency - oil prices have crashed; appointments have favoured the North; important political allies have been displaced; governance is focused almost exclusively on a war against corruption; concerns over rule of law and human rights are re-surfacing; and economic policy is floundering!

The Governor, who was represented as the Special Guest at the forum by the Commissioner for Economic Planning & Budget, Mr. Akinyemi Ashade, expressed confidence in the regime of President Buhari to combat the fiscal failures of the past administration, which, he said, was responsible for the economy downturn we are experiencing following the crash in the price of crude oil — our major source of revenue.

An oil price crash and an unemployment rate that spiked to nine per cent last year did not cause the residential real estate market to crater, as some feared.

It's also worth noting that many big banks as well as the IEA now admit that peak conventional crude oil in now, and current spot prices for oil are above $ 100 like before the crash.

Thanks to fracking, the U.S. has become the world's largest oil producer, creating much of the glut now crashing oil prices, just as fracking earlier made the U.S. the world's largest gas producer, crashing gas prices.

While some of the reduction from the big oil companies is probably due to the crash in oil prices that began in 2014, leading to lower activity across the energy industry, all five majors have enacted climate and efficiency policies, as well as anti-pollution measures, the report said.

It could be seen as ironic to note that the price drop of these french wines occurs simultaneously with what we could call the new oil crash.