Sentences with phrase «oil glut»

The phrase "oil glut" means there is an oversupply of oil in the market, resulting in more oil than there is demand for. This surplus can lead to a drop in oil prices and difficulties for oil-producing countries and companies. Full definition
The price for a barrel of West Texas Intermediate crude has fallen by more than 30 % since the beginning of June, to nearly $ 40, as the ongoing global oil glut keeps dragging down the world's oil prices.
OPEC wants to talk to rival shale drillers to learn lessons of oil glut Saudis and US, seen as rivals, are actually growing together: Aramco CEO Saudi Aramco looking to Google parent Alphabet to build tech hub
Low crude prices and a booming global economy have caused the biggest oil glut in history to disappear before your very eyes.
Diesel prices have fallen to the lowest levels since mid-May, marking the seventh consecutive week without an increase as the global crude oil glut spills over into refined product... Read More
Only since 1986 and the current oil glut, said Masse, has there been a resurgence in oil use and coal burning.
Concerns over the worldwide oil glut heightened in the past week as both Russia and Iraq posted record oil supplies.
Related: U.S. Oil Glut An EIA Invention?
This means we will be seeing a bigger oil glut with Iranian crude exports coming back to the market,» said Phillip Futures analyst Daniel Ang.
The majority of the companies that left the list this year fell off as a result of the prolonged oil glut, which has clobbered revenues for energy companies.
Keystone XL and Gateway would be big, gaping holes capable of draining the continental oil glut, but things like Enbridge's Line 9 pose a threat to the beavers too.
Hackett is gambling that the present oil glut will keep gas prices so low that consumers won't worry about fuel costs, but history shows that oil prices fluctuate wildly and will eventually get back to $ 100.
These and other smaller producers, who have been aggressively battling each other for market share in Asia, continue to add to the more than 1 million barrel a day world oil glut.
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!)
But with a world - wide oil glut that shows no signs of easing, observers including Sklar think lifting the export ban won't have much effect in the near term.
In the mid-1980s, after an unexpected oil glut caused prices to collapse, Exxon cut its staff deeply to save money, including many working on climate.
A surge in North American production made possible by technological revolutions contributed to a global crude oil glut that toppled prices from more than $ 100 a barrel in 2014 to under $ 50 today.
Two million barrels per day is the size of the current oil glut, which was enough to drive global oil prices into the gutter.
Oil prices have already fallen recently on fears of a growing global oil glut.
As they digest multiple shocks — a worldwide oil glut, new emissions rules and anticipated royalty increases under Alberta's new NDP government — oil and gas companies» attention will likely be focused elsewhere.
Presto, change - o the U.S. oil glut has disappeared.
The absence of any attempt by Saudi Arabia and OPEC to reduce the oil glut was one of the great surprises of 2015.
If $ 80 oil is really the unofficial Saudi target, and if prices reached that level — amid potential higher geopolitical risks (Iran, Venezuela) for example — U.S. producers could tip the supply side into another oil glut, while demand growth could slow down, leading to another cycle of depressed oil prices.
The oil - price crash, of course, was the result of an oil glut.
A version of this article appears in the June 15, 2016 issue of Fortune with the headline «Cleaning up After an Oil Glut
A petroleum refiner, Hess has not escaped the consequences of the oil glut.
International markets have also been strong, as the oil glut begins to taper and Chinese and European economies strengthen — helping U.S. multinationals surge amid potential increases in international sales.
Oil - producing countries, meanwhile, are proving «remarkably successful in better aligning supply to demand, draining the crude oil glut and pushing oil prices to their highest levels since 2014,» DeHaan said.
Both Russia and OPEC, post-meeting, assured the market that it had won the battle over the oil glut, but pushed out until November the decision on whether it should extend the production cuts beyond March 2018.
Both OPEC and Russia added that they were about halfway finished with clearing the global oil glut, and encouraged members to remain vigilant and set upon their task of reining in production.
With crude oil prices down sharply from last year and the oil glut at risk of increasing, private security consultant Charles Clifton's phone has been ringing.
Posted by Jeff Rubin on July 29th, 2015 under SmallerWorldTags: bear market, Canada, oil, oil glut, Oil Sands • 2 Comments
Crude oil bears must face virtual reality as OPEC says that the global oil glut is «virtually» gone.
Still, the oil glut persisted because such production decreases, particularly in Saudi Arabia and Iraq, didn't balance with an even lower demand from OPEC's customers.
The tax selling and deterioration of oil futures combined to escalate the general sell - off in commodities and «it all started with the oil glut
As was the case last week, fueling the sell - off was another dose of disappointing inventory data, which is confirming the market's worst fear that the oil glut isn't going away as quickly as hoped.
Unfortunately, knowing that there is an oil glut and, therefore, that the «fundamentals» remain bearish doesn't tell us what will happen to the oil price in the future.
Nevertheless, with every major oil producer looking to boost production, the oil glut is here to stay.
Even the International Energy Agency (IEA), that hates to say anything bullish about oil, is acknowledging that despite their prior doubts that OPEC and their Non-OPEC coconspirators have succeeded in removing the global oil glut.
Monday's comments by Putin injected renewed optimism in the market that OPEC and non-OPEC countries might be able to find common positions in efforts to reduce the oil glut and rebalance the market.
My question is regarding the original cause of the inflation: Venezuela has had runaway inflation since the economy rebounded following the oil glut in the 1980's.
«However, what we are sure of is that Iran will soon add to the oil glut once the sanctions on it are lifted and increasing research and innovations in alternative energy sources will continue to reduce demand for oil and push further down the price.
The Governor who lamented the present economic situation of the country noted that there is an invasion on the economy of Nigeria to the extent that the country is loosing 75 percent of her income due to oil glut.
The tar sands could shut down tomorrow, and the oil glut would still continue.
Now, people talk of an oil glut and can't get away from the energy sector fast enough.
The energy crises of the 1970s, however, gave way to an oil glut in the 1980s, and Block Island's dependence on diesel continued.

Phrases with «oil glut»

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