Sentences with phrase «by the oil price crash»

Not exact matches

This eye - catching graph pops out of a report published by Boston Consulting Group on January 21: it illustrates how the current oil price crash, while not (yet) the deepest in recent memory, is the longest - lasting — and counting.

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.

After chopping spending by almost one - third to cope with a crash in oil prices and billions in writedowns that sent profits to the weakest since last decade, China's energy giants Continue Reading

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.

But Nabiullina seems to have won supreme - leader Vladimir Putin's confidence by steering clear of politics, keeping billions inside Russia, and nurturing the banking system through two years of recession that followed the 2014 oil - price crash.

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 light of the crash in global crude oil price, which is Nigeria's main foreign exchange earner, the devastating actions of aggrieved militants on oil and gas infrastructure in the oil - rich Niger Delta which has resulted in lock - in or leakages of crude oil, sometimes in excess of one million barrels that could have been exported daily, and the consequential rapid decline in the well - being of the masses, the urgency to fix the Nigerian economy by changing tactics from sole reliance on oil, becomes more poignant and urgent, hence the need for international experts to aid diversification efforts of the government.

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.

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.

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.

The crash in oil prices has hit Alberta hard and the number of EI recipients shot up by a whopping 72 % since the crash in oil prices began.

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.

The odds of a fiasco are increased, he reckons, by the likelihood of a crash in oil prices: «the fundamentals do not support anything like these prices for long.»