Sentences with phrase «of global oil inventories»
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.
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Yet with global growth declining, oil inventory at record levels, and momentum on the side of increasingly cost - competitive renewable energy technologies, there remains a high possibility the energy sector will face another existential crisis in the near future.
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.
While the re-balancing of global oil markets is progressing, record - high crude and gasoline inventories continue to put downward pressure on prices.
Oil prices have arisen from the lows set in March, but a glut of inventory and few catalysts for dramatic jumps in global energy demand suggest 2015 earnings will likely be less than half of last year's tally.
The OPEC deal seems to finally be bearing fruit in the form of a sharp decline in global crude oil inventories.
It's «mission accomplished» for OPEC in its battle against bulging global inventories of oil, thanks to the production cuts it has had in place for nearly 18 months.
Global crude oil inventories had reached record highs, and the price of oil Continue Reading
Joint cuts of 1.8 million b / d have reduced OECD oil inventories towards their five - year average and cleared most of the global glut, with the Saudis cutting even deeper than agreed in an attempt to lift prices well above US$ 80 before selling off shares in Aramco.
The energy sector has been out of favor for so long now that the lack of investment combined with OPEC production cuts are pushing down global oil inventories while world economies continue to grow.
Yet with global growth declining, oil inventory at record levels, and momentum on the side of increasingly cost - competitive renewable energy technologies, there remains a high possibility the energy sector will face another existential crisis in the near future.
â $ œI believe that although there may be a number of factors with regard to oil, the predominant factor by far is supply and demand, is the fact that global production and capacity hasnâ $ ™ t increased appreciably over the last 10 years and the demand has continued to grow and inventories are at low levels, â $?
Energy markets data provider S&P Global Platts has announced the commercial deployment of a blockchain network for sharing oil inventories.