Sentences with phrase «global oil inventories»

This flooded global oil inventories and sent prices as low as $ 30 a barrel which was a disaster for all concerned.

Whether or not that happens — and frankly, it's an extreme example of the worst - case scenario for US shale producers — a glut of global oil inventories is already weighing on oil prices.

The global oil supply glut hasn't eased as fast as we thought it would, but we expect to see a reduction in global oil inventories — and a rebalancing of supply and demand — in the second half of the year.

Yet, they ignored a report about global oil inventory tightening.

Until a month or two ago, the market was weary of OPEC's continuous jawboning and calls for patience while waiting to see markedly reduced global oil inventories.

Although the oil market has been improving, OPEC still has work to do to bring global oil inventories back to their five - year average — the metric that OPEC has vowed to achieve Continue Reading

Saudi Arabia's Energy Minister Khalid al - Falih said on Friday global oil inventories had declined from their peak but had not yet fallen far enough.

And Brent is in position to post extra gains within the next two weeks due to shrinking global oil inventories and concerns over the escalating military activities in the Middle East.

Put another way, global oil inventories could see a boost of 600,000 bpd from the storms.