Sentences with phrase «oil cartel»

A new study released by the Joint Economic Committee (JEC) of the US House of Representatives concludes that the accelerated development of huge reserves of unconventional oil in Canada will undermine the OPEC oil cartel in coming years.

OPEC and its partners meet in Jeddah, Saudi Arabia on Friday, with the 14 - member oil cartel then set to reconvene on June 22 to review to its oil production policy.

US president Donald Trump railed against the OPEC oil cartel Saturday AEST, declaring the group was unjustifiably manipulating supplies for selfish gain.

«A majority of North Americans do understand, at some level, that our food choices are politically charged,» says Kingsolver, «affecting arenas from rural culture to international oil cartels and global climate change.»

At the time, crude was around US$ 75 a barrel and the OPEC oil cartel had not yet announced its intention to maintain output rather than cut it in a bid to support prices.

Oil traders are eagerly anticipating an extension to OPEC's production cut this week, but one analyst has told CNBC that comments from the oil cartel could be just as powerful in propping up the price of the commodity.

But, the oil cartel soon moved to curb production — along with other oil producing nations — in late 2016.

Funding its ballooning deficit, which can't be plugged with asset sales and debt issuance alone, and improving its economic situation are partly why Saudi Arabia, the largest producer in the OPEC oil cartel, disagreed to any cut in production at the December OPEC meeting, and more recently has been discounting the price of oil to its customers.

The president slammed the oil cartel for production cuts that spurred the highest oil prices since 2014.

Saudi Arabia, OPEC's de-facto leader, has recently indicated the participants could continue to hold back output into next year, despite evidence the glut in global supplies have shrunk to levels just above the oil cartel's target.

OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel's agreement to cut production, even as the world's total oil supply continued to Continue Reading

As shown, U.S. net volume imports from the oil cartel have dropped more than 40 % since 2007.

As the undisputed leader of the oil cartel, Saudi policy on oil supply matters immensely to these markets.

Saudi Arabia, Opec's de facto leader, and Russia, the largest oil exporter outside the oil cartel, are also working towards an agreement to freeze output though it is yet to win the support of all Opec members.

The oil cartel agreed to extend cuts until the end of 2018.

The oil cartel's lower output was finally reviving prices before a storm knocked out around a third of U.S. refineries and dented demand.

OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel's agreement to cut production, even as the world's total oil supply continued to rise on the back of burgeoning U.S. shale growth.

In 2014, OPEC found itself facing the same problems that plagued the oil cartel in the late 1990s.

Hercules, Caesar, Colleoni: there is symbolized brute strength, military power, political power, economic power, the power to enslave and destroy; the power of international arms sales, nuclear stockpiles, oil cartels and transnational corporations; the spiritual power of imposed belief and religious triumphalism demanding obedience and maintaining an uncertain peace by the balance of terror, whether by threats of hell or atomic apocalypse.

However, as the weekend approached, doubts were growing about the ability of the oil cartel to actually cut its collective production.

That technology when scaled up will make any country independent of any oil cartel be it OPEC, Russia, or anyone else.

Internationally they are afraid of the Arabs, the blacks, the Cubans, the Communists, the Chinese, the multinational corporations, the oil cartels, pollution of the sea and the air, atomic bombs, pestilence, poisons and additives in food.