Sentences with phrase «global oil prices crashed»

Not exact matches

And there is no doubt that despite the scarcity of the resource, the price of oil will crash the next time the global economy sewers.

The 2008 - 2009 oil price collapse was part of an overall crash of the entire global economy.

Nikolaos Panigirtzoglou from JP Morgan says global consumers enjoyed a US$ 1.8 trillion annual windfall — worth 2.2 per cent of global GDP — when oil prices crashed.

I do believe that third quarter 2014 the global economy experience a cyclical drop in oil demand that triggered the price crash.

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.

Once the global oil glut approached and oil prices crashed, it was clear trouble was in the horizon, but our leaders (not just the NPN leaders at the federal level, but opposition governors in the states too!)