Sentences with phrase «declining oil imports»

Not exact matches

We referenced their numbers when we looked at the changing anatomy of U.S. oil imports, or when showing the decline in coal use over recent years.
For one thing, the concerns over the decline in crude oil prices may be overdone, it said, adding that the economy is still resilient and Malaysia is likely to maintain a trade surplus as demand for imports is also softening along with exports.
A ban on Venezuelan oil would strain the market for heavy crude in the U.S., which is already tightening because of declining imports of medium sour oil from Saudi Arabia.
The US oil - rig count plateaued near the highest level in three years and showed signs of declining in late March (to 797), though it still stood 50 rigs above the year - end 2017 total.2 This contributed to expectations for a further increase in American crude production, which has topped 10 mb / d each week since early February, when WTI prices began to recede from their intra-quarterly high of US$ 66.14 a barrel.3 The amount of crude in US storage occasionally exceeded weekly estimates given the higher domestic output and fluctuating net import figures, reigniting fears that US production may thwart OPEC's efforts to clear global oversupply.
In terms of oil shipments to the U.S. and China, Saudi exports to the U.S. have been on the decline as the total U.S. imports fall while domestic shale production rises.
The US Gulf Coast currently imports over 4 million barrels per day of crude oil, a number which is expected to decline but is unlikely to reach zero.
The oil - and import - dependent economy also declined by 0.36 percent in the first quarter.
In the early 1970s, declining domestic production and America's ever increasing thirst for oil made dependency on imports a necessity, whilst the OPEC Revolution and the 1973 Arab oil embargo seemed to also make dependency a serious threat to national security.
We will become increasingly reliant on imports as North Sea oil and gas production goes into steep decline;
As oil exporting nations experience both declining oil production and increased domestic oil consumption, they will reduce oil exports to the U.S. Because the U.S. is highly dependent on imported oil for transportation, food production, industry, and residential heating, the nation will experience the impacts of declining oil supplies sooner and more severely than much of the world.
With domestic gas production on the decline in the 1970s and policymakers eager for alternatives to imported oil, shale gas was one of several such radical resource bases that federal geologists tried to tap.
This is particularly critical for oil importing countries that will be cut off from oil exports at about twice the rate of the global decline in available transport fuels.
The Energy Independence and Security Act of 2007 (EISA) was legislation enacted under the assumptions of declining domestic production of crude oil and far greater crude oil imports.
«Imports of liquid fuels as a share of total U.S. liquid fuel consumption are projected to decline to 34 percent by 2019, increasing our energy security and limiting our vulnerability to politically unstable oil regimes halfway around the world.
In the longer - term, investment in oil and gas remain essential to meet demand and replace declining production, but the growth in renewables and energy efficiency lessens the call on oil and gas imports in many countries.
When mitigating anthropogenic global warming is projected to require greater than 80 % lower fossil energy use, how do we provide the transport fuel and energy for rapid growth by developing countries while sustaining OECD economic growth when the Available Net Exports of crude oil — after China and India's imports — have already declined 13 % since 2005, and Saudi Arabia may need to import oil by 2030?
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During the early 1990s, Cuba saw a sharp decline in energy supply due to a cutoff of low - cost oil imports from the now - defunct Soviet Union.
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