Sentences with phrase «economy by the oil price»

Some of the poorest countries in the world are so dependent on oil imports that their already fragile economies have been hit 10 times as hard as the U.S. economy by the oil price shocks of the past years.

Not exact matches

With weak oil prices and international sanctions crushing Russia's economy, «Putin has little else to offer to the public besides the classic narratives of Russia as a besieged fortress surrounded by enemies,» Borschevskaya said.

In response to a question about whether a rate cut amounted to pouring gasoline on the overheated housing market, Poloz said «We admit that these conditions are likely to cause financial imbalances,» in some cases, but that the Bank's primary goal is to ameliorate the «financial shock» to the economy caused by the drop in oil prices.

It says the economy, hit hard by low oil prices, will benefit from the growth of an entertainment industry.

Indeed, retail spending has been disappointing despite expectations for a rejuvenated U.S. economy boosted by the decline in oil prices.

In the October report, there were five: stronger - than - expected U.S. growth; higher - than - expected oil prices; the possibility that weak business investment had altered the economy's potential; slower growth in less advanced economies such as China; and a tilt to saving from spending by Canada's heavily indebted households.

Failure of prices to recover raises the prospect of even deeper cuts to investment by oil and gas companies next year and would likely result in Canada's economy remaining on a slower growth path than the 2.2 per cent pace we are expecting.»

U.S. airline stocks hit a 13 - year high this week as they gained momentum from lower oil prices and increased travel spending by Americans in an improving economy.

The Saudi economy has been severely damaged by low oil prices, and policymakers are trying to diversify into new industries.

The Russian economy has been hit by low oil prices and western sanctions and is set to contract 0.6 percent this year, according to data from the International Monetary Fund.

The bank acknowledged that the Russian economy, which has been affected by international sanctions and lower oil prices, is recovering at a «heterogeneous» pace.

Or think of the price the Canadian economy is expected to pay for the damage wreaked by climate change after years of oil industry lobbyists opposing serious carbon reduction policies.

Prices for crude oil, the world economy's most essential commodity, will need until 2020 to recover from the price war unleashed last year by Saudi Arabia, the International Energy Agency said Tuesday in its annual outlook for the global energy market.

With high oil prices persistently poised to derail the global economy, with large economies like Germany and Japan swearing off nuclear in the wake of the Fukushima Daiichi disaster, with coal hampered by looming emissions caps, unexpectedly abundant gas seems poised to fill the energy void.

«We believe the bias for stock prices in general remains to the upside, underpinned by a growing economy, low interest rates and increasingly, cheaper oil... With operating margins at elevated levels, top line growth is poised to more quickly bleed through to the bottom line, thus supporting earnings.»

This scenario was part of our thinking at the beginning of last year, when Canada's economy was hit by the collapse in oil prices and we cut our policy interest rate.

Posted by Jeff Rubin on May 23rd, 2012 under SmallerWorldTags: economic growth, Global Economy, oil prices • 22 Comments

Canadian energy company shares are trading at levels not seen since the depths of the 2008 crisis, levels that can only be justified if the global economy falls into another recession and oil prices drop by half.

Russia's economy may grow by barely 2 % this year, with potential growth also at around 3 %, despite oil prices being around $ 100 a barrel.

Following a January rally, the global commodities complex underwent declines in February before partially recovering in March; for the first quarter as a whole, the benchmark Thomson Reuters CoreCommodity CRB Index (CRB) gained 0.8 % on a price - only basis.1 Among the 19 component commodities tracked by the CRB, advancers had a slight edge over decliners, buoyed by growth in global economies and weakness in the trade - weighted US dollar, which retreated 2.1 %, according to the Federal Reserve's (Fed's) US Dollar Index.1 Aside from robust gains for a host of agricultural products, oil and gold were also among the commodity winners.

The moves higher in global stock markets have been accompanied by a recovery in oil prices to over $ 48 a barrel, receding worries about the Chinese economy, and the U.S. Federal Reserve indicating it is in no hurry to tighten policy.

The negative impact of lower oil prices will gradually be mitigated by a stronger U.S. economy, a weaker Canadian dollar, and the Bank's monetary policy response.

2014.12.12 Canada's economy to benefit from broader export demand in 2015: RBC Economics Canada's economy is expected to see higher export growth in 2015, despite the recent decline in oil prices, according to the latest Economic and Financial Market Outlook issued today by RBC Economics...

But Russia's economy has suffered more recently, following declining oil prices and economic sanctions imposed by the U.S. and eurozone.

Canada's economy is expected to see higher export growth in 2015, despite the recent decline in oil prices, according to the latest Economic and Financial Market Outlook issued today by RBC Economics...

If there's a bright spot for the province, however, it's that the ongoing disruption of Alberta oil sands production — estimated by the Conference Board of Canada to be about 1.2 million barrels a day, comprising nearly $ 1 billion in economic activity — has contributed to a rally in global oil prices that could give producers, and therefore the Alberta economy, a badly - needed lift once production is finally back on - line (assuming, of course, the fires are eventually extinguished and oil sands operations escape serious damage).

The economy keeps chugging along helped by high consumer confidence, low unemployment, and stabilized oil prices.

First, almost 10 % of the Canadian economy is driven by energy, so even the slightest setback in oil prices will have a fairly significant effect on the economy.

Rather than follow a disastrous road taken by some of her predecessors, and slash funding to government services while the price of oil is low, the NDP government is taking an opportunity to invest in much needed public infrastructure when the economy is slow and the price is right.

To make things worse, Canada's economy has been hit hard by falling oil prices, and investors remain wary of a Canadian housing market that has shown signs of becoming a bubble, as well as rising consumer debt rates.

Chris Weafer, a senior partner at economic and political consultancy Macro Advisory, said he still saw Russia's economy growing by 1.8 percent this year, with oil prices above $ 60 a barrel.

With so many economies prospering I must say, again, it will be only a matter of time before oil prices and prices of other commodities increase, by much.

While heartened by the bounce in oil prices after the multi-decade lows reached early in the year, any significant further rally in energy prices would seem to us to require a far more vibrant global economy.

The second is that the world economy was moving along very smoothly in the post-war period, with everything under control, until hit by the external shock of the OPEC - induced oil price rise in late 1973 (and again in 1979).

The Mexican government is cutting spending to help the economy, which has been hurt by a sharp drop in world prices for oil exports.

Already Buhari has started giving excuses for the abysmal performance.He attributed the quagmire to drop in the price of oil globally and cleverly laid the blame on the doorsteps of all Nigerian accusing them of relying solely on oil.All renowned rating agencies including fitch continue to downgrade Nigeria ever since Buhari took over and it is projected that Nigeria will not be able to repay its debt obligations.Fitch for instance downgraded Nigeria's longterm foreign currency issuer default rating to B + from BB - and longterm local currency IDR to BB - from BB.The general position expressed by almost all the Briton wood institutions is that Nigeria's fiscal and external vulnerability has worsened under Buhari and it is projected that the government's general fiscal deficit could grow up to 4.2 % by the end of 2016 after averaging 1.5 % under the previous regime.A recent capital importation report by Nigeria Bureau of Statistics confirms that, last year, the country recorded total inflow of capital into the economy stood at $ 9.6 billion which was a 53 % drop from previous year and the lowest recorded total since 2011.

Africa's largest economy, which relies on crude sales for around 70 percent of government revenues, has been hammered by the more than 50 percent fall in oil prices since June last year.

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.

Such is the power of Information and Communications Technology, ICT, which makes it the next big sector for employment and possibly the hope of Nigerian economy as oil prices keep diminishing by the day.

No doubt the fall in oil price is affecting Nigeria's economy; however, diversification plans are yet to be unveiled by the government despite the on - going regression.

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.

I expressed my views in this regard on WhatsApp last weekend, «Any country in which its elites consider re-electing a president like Buhari just as thousands of citizens are murdered across the country with not a single person arrested; a president who can not make an intelligent conversation on any policy or global issue with other global leaders; a president whose EFCC and DSS engage in open confrontation; a regime which crippled the economy and relies on cyclical movements in oil prices as its sole economic lever; a regime under which 10 million jobs are lost; and key accusations against top officials are treated with levity; just as the regime appears complicit in the invasion of its senate by thugs and seizure of mace... such a country is in serious trouble, that is if it isn't doomed.

Add to this the terrible state of the economy that Buhari inherited, headlined by a collapse in global crude oil prices, our main export earner, and the rapacious emptying of the national treasury by previous governments, and you have a seething, discontented people.

The Minister has consistently demonstrated empathy for the plight of Nigerians hard hit by dwindling oil prices and the impact on the economy.

Nigeria along with Angola, the leading oil economies on the continent have been hit hard by oil prices which have gone down by more than 50 percent in the last 12 months.

He observed that the state of economy had largely been affected by the decline in oil price between June 2014 and December 2015 and therefore increased domestic vulnerabilities.

The party failed to kill off the urban myth that Labour overspending caused the crisis, and gave credibility to Conservative claims about the economy by signing up to austerity - lite; Miliband's personal ratings were never within spitting distance of Cameron's; falling oil prices finally increased real wages; and the SNP «threat» was mercilessly deployed to scare off English voters.

While commending the Federal Government for towing the line of Lagos State in making efforts to increase its Internally Generated Revenue, Ambode emphasised that the most important lesson that must be learnt from the fallen oil prices is the need to diversify our economy by looking inward.

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.

$ 8 billion) over first ten years for deficit reductionObeys PAYGO; Starting in 2026, 25 % of auction revenues for deficit reductionFuels and TransportationIncrease biofuels to 60 million gallons by 2030, low - carbon fuel standard of 10 % by 2010, 1 million plug» in hybrid cars by 2025, raise fuel economy standards, smart growth funding, end oil subsidies, promote natural gas drilling, enhanced oil recoverySmart growth funding, plug - in hybrids, raise fuel economy standards $ 7 billion a year for smart growth funding, plug - in hybrids, natural gas vehicles, raise fuel economy standards; offshore drilling with revenue sharing and oil spill veto, natural gas fracking disclosureCost ContainmentInternational offsetsOffset pool, banking and borrowing flexibility, soft price collar using permit reserve auction at $ 28 per ton going to 60 % above three - year - average market price» Hard» price collar between $ 12 and $ 25 per ton, floor increases at 3 % + CPI, ceiling at 5 % + CPI, plus permit reserve auction, offsets like W - MClean Air Act And StatesNot discussedOnly polluters above 25,000 tons of carbon dioxide equivalent a year, regional cap and trade suspended until 2017, EPA to set stationary source performance standards in 2016, some Clean Air Act provisions excludedOnly polluters above 25,000 tons of carbon dioxide equivalent a year, regional cap and trade pre-empted, establishes coal - fired plant performance standards, some Clean Air Act provisions excludedInternational CompetitivenessTax incentives for domestic auto industryFree allowances for trade - exposed industries, 2020 carbon tariff on importsCarbon tariff on importsReferences: Barack Obama, 2007; Barack Obama, 8/3/08; Pew Center, 6/26/09; leaked drafts of American Power Act, 5/11/10.