An IEA collective action would be initiated in response to a significant
global oil supply disruption and would involve IEA Member Countries making additional volumes of crude and / or product available to the global market (either through increasing supply or reducing demand), with each country's share based on national consumption as part of the IEA total oil consumption.
The U.S. Energy Information Administration (EIA) estimates that an average of 800,000 barrels per day in production were taken offline last month, contributing greatly to May's having the highest monthly level of unplanned
global oil supply disruptions since the agency began tracking such data in 2011.
Not exact matches
A report from CIBC World Markets recently predicted the stock market might fall 10 % — 15 % this summer due to a confluence of factors, including a weak U.S. housing market, increasing fiscal strain, expensive
oil prices, sluggish corporate earnings growth and
disruptions in
global supply chains stemming from the Japanese crisis.
OPEC
oil output rose slightly in October, keeping the
global market well
supplied, as additional exports from Iraq, Angola and Libya offset
disruptions in Nigeria and a further decline in Iran to its lowest in two decades, a Reuters survey found on Wednesday.
Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, and capital markets conditions and other factors beyond the Company's control, including natural and other disasters or climate change affecting the operations of the Company or its customers and
suppliers; (2) the Company's credit ratings and its cost of capital; (3) competitive conditions and customer preferences; (4) foreign currency exchange rates and fluctuations in those rates; (5) the timing and market acceptance of new product offerings; (6) the availability and cost of purchased components, compounds, raw materials and energy (including
oil and natural gas and their derivatives) due to shortages, increased demand or
supply interruptions (including those caused by natural and other disasters and other events); (7) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) unanticipated problems or delays with the phased implementation of a
global enterprise resource planning (ERP) system, or security breaches and other
disruptions to the Company's information technology infrastructure; (10) financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; and (11) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10 - K for the year ended Dec. 31, 2017, and any subsequent quarterly reports on Form 10 - Q (the «Reports»).
The U.S. dollar clung to gains amid fading concerns over a
global trade war, while
oil soared on a reported decline in U.S. crude inventories and the possibility of
supply disruptions.
That is because the
global glut in
oil supplies loom larger than any potential for a
supply disruption.
Disruption in
Global oil supply also influences the interest rates — as an example.
All fossil fuels are non-renewable, but nothing is less renewable than the 600 million barrels of
oil which we have stockpiled in the event of a
disruption in the
global supply chain.
crude
oil and / or product reserves equivalent to 90 days of the previous year's net imports, to which the government has immediate access (even if it does not own them directly) and could be used to address
disruptions to
global oil supply;
U.S. production growth, the main factor counterbalancing the
supply disruptions on the
global oil market, has contributed to a decrease in crude
oil price volatility since 2011.
I would not call money spent preventing sudden
disruptions in
supply (as a result of violent conflict) a subsidy if it is preventing
global price spikes, which tend to create corresponding profit spikes for
oil companies.
A
disruption in Middle East
oil supplies, combined with a robust upturn in
global economic growth, could quickly transform
oil's role as an inflation suppressor into an inflation accelerator.