Sentences with phrase «average global price of oil»
The report said a price recovery is expected to cause the most pain among companies drilling in the United States, who rely mostly on hydraulic fracturing, which isn't profitable unless the average global price of oil is around $ 60 per barrel.
https://oilprice.com/ Not exact matches
It also gradually phased out subsidies that kept retail fuel cheap, causing prices at the pump to climb by an average of nearly 25 % since 2014, even though global oil prices fell by as much as 75 % during that period.
Joint cuts of 1.8 million b / d have reduced OECD oil inventories towards their five - year average and cleared most of the global glut, with the Saudis cutting even deeper than agreed in an attempt to lift prices well above US$ 80 before selling off shares in Aramco.
The average price for a gallon of unleaded regular shot up 13 cents in just three days last week in response to a spike in crude oil prices on the global market.
A recent report from real estate services firm CBRE on investment flows from the region noted an overall drop in spending on global real estate in 2016 and 2017, largely due to the price of oil remaining near $ 50 a barrel on average.