Sentences with phrase «decades of low oil prices»

Increased exploration spurred by high oil prices paired with that drop in demand led to two decades of low oil prices.

Not exact matches

«BP is continuing to plan for a lower oil price world,» chief executive Bob Dudley said on Tuesday, adding that «I'm not expecting big shifts in prices anytime soon and a price of $ 50 a barrel looks like the right number to plan on for the rest of the decade.»

«BP is continuing to plan for a lower oil price world,» chief executive Bob Dudley said earlier this month, adding that «I'm not expecting big shifts in prices anytime soon and a price of $ 50 a barrel looks like the right number to plan on for the rest of the decade.»

More than three years after Bob Dudley said that oil prices would be lower for longer, BP's chief executive still thinks «a price of $ 50 a barrel looks like the right number to plan on for the rest of the decade.»

After bottoming out at decade - plus lows in February, oil prices finished the year up more than 40 %, lifting the prospects for a lot of companies across the oil and gas industry.

I noted that oil exploration is a «long game» gauged around the likelihood for rising demand in decades to come, but asked if they thought low prices (and projections for more of the same) played a role?

Last month we connected he lowest pre-Labor Day gasoline prices in more than a decade with the global cost of crude oil, the main factor in prices at the pump.

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The gift that is American energy is seen in some key numbers: domestic crude oil production reaching more than 9 million barrels per day last month, the highest level in more than two decades, according to the U.S. Energy Information Administration (EIA); total U.S. net imports of energy as a share of energy consumption falling to their lowest level in nearly 30 years during the first six months of this year; gasoline prices dropping to an average of $ 2.47 per gallon last week, their lowest point since May 2009, according to the Lundberg Survey Inc..

With the influx of shale oil on the market, for example, we're seeing lower gasoline prices this summer than we have in over a decade.

If the price of oil stays high enough and Russian taxes stay low enough to justify the costly extraction of Arctic oil reserves (the going rate for ice platforms is $ 15 billion a pop), this could keep Exxon on top of the world for decades, and it might do more to cement U.S. — Russian relations than any deal in history.