Sentences with phrase «own oil supply»

The higher the oil price the Saudis (or OPEC) target and possibly reach, the more areas in the U.S. would be profitable to drill and add to the global oil supply, potentially wiping out the effect of the cuts and depressing oil prices again.

In 1986, while in charge of crude oil supply and strategic planning in the refining and marketing division at Petro - Canada, Thompson saw the worst downturn of her career.

Nonetheless, Saudi Arabia's economy is still largely predicated on oil and, with oil prices rising on the back of Saudi - led OPEC and non-OPEC producers curbing oil supply, the kingdom's finance minister said he welcomed higher prices but they would not affect spending limits.

But for several years, companies in southern Louisiana, where his business is located, have suffered along with the oil industry, which is affected by changes in global oil supplies and technologies like fracking.

The acceptance of the notion that global oil demand will peak within a generation is mind - blowing given that, just a decade ago, the chatter in the energy world was about a coming peak in oil supply.

The Trump offshore drilling plan would let oil suppliers drill in protected areas of the Atlantic and Arctic Oceans — places where governors, attorneys general and lawmakers along the East and West Coasts oppose offshore drilling.

Given the low level of investments, the world could soon face an oil supply shortage, warns Saudi Aramco

Global oil supply rose in June as compliance with an OPEC - led deal to freeze production showed signs that it was stalling, the International Energy Agency (IEA) noted in its latest market report on Thursday.

Given the low level of investments, the world could soon face an oil supply shortage, Amin Nasser, the chief executive of Saudi Aramco, said Monday also in Istanbul, Reuters reported.

At the time, oil supplies for OECD nations had surged to near 400 million barrels above their five - year average, and were still running at about 300 million barrels above the average at the end of 2016.

OPEC also said Thursday that the world's total oil supply rose by 180,000 barrels a day last month, mainly because of non-OPEC producers such as the U.S., Norway and the U.K.

«Oil supplies (from the United States) are continuing to grow and there are no signs of a reversal,» said Fawad Razaqzada, market analyst at futures brokerage Forex.com.

«Increasing the number of transportation options and markets for Canada's oil supply will lead to higher netbacks for all Canadian producers.»

From an oil supply perspective, the immediate concern is Saudi Arabia.

Oil supply concerns are greater for Europe, where crude prices have jumped even higher due to the region's larger energy reliance on MENA.

Oil prices took off when the crisis hit Egypt, threatening to choke off oil supply lines by closing the Suez Canal.

Last year, Saudi Arabia pledged billions of dollars of investments in projects in Indonesia and Malaysia to secure long - term oil supply deals.

On Wednesday, the Energy Department is expected to report that U.S. crude oil supplies fell last week by 1.5 million barrels, according to a survey of analysts by Platts.

President Trump's steel tariffs will hit the US energy industry hard just as the US is poised to lead world oil supply.

The Saudi - led Organization of Petroleum Exporting Countries (OPEC) will meet Thursday to work out a plan to cut global oil supplies and boost prices, but OPEC member Iran has an incentive and the power to screw the whole plan up.

From the early 1930s until 1972, U.S. oil states imposed oil supply quotas so restrictive they would make OPEC blush, while major international oil companies, or «The Seven Sisters» held back oil supply from the massive Middle Eastern concessions they operated.

On Thursday, the International Energy Agency (IEA) said global oil supply increased in February by 700,000 barrels per day (bpd) from a year ago to 97.9 million barrels per day.

The fossil fuel industries are making moves in Europe, with oil suppliers cutting supply to drive up prices again.

Rubin argued peak oil supply and rising prices would push up transportation costs and slam the brakes on globalization.

CNBC's Jackie DeAngelis speaks to Mohammed Barkindo, OPEC secretary general, about Trump administration energy policies, as well as global oil supply.

«The resilience of US onshore oil supply in the face of lower prices demonstrates the profound technological transformations witnessed in the shale industry.»

Alberta's unconventional oil reserves are big enough to meaningfully increase world oil supplies — and lower crude prices for everyone — if they're fully developed.

Notley strongly backs the pipeline and has threatened to cut off oil supplies to British Columbia.

Ervin said cutting off light oil supplies through Trans Mountain would hurt Alberta - based Parkland Fuels Corp., which bought the 55,000 - barrel - per - day Burnaby refinery last year and has enjoyed good margins thanks to its access to low - cost Alberta feedstock.

However, that configuration is ill - suited to an era when the fastest - growing crude oil supply is coming from the middle of the bowl, from U.S. oil producers using new extraction techniques and the Canadian oilsands.

We do not expect the changes at the oil ministry or Saudi Arabia Monetary Agency (SAMA) to herald any shift in the Kingdom's long standing FX regime or its stance on oil supply.

The renewed sanctions would likely dampen Iranian oil exports, disrupting global oil supply.

By the 1973 oil supply shock, petroleum provided 50 % of the world's energy; overall demand is much higher today, but oil still represents 35 % of total demand.

In short, the argument was based on a supply - driven analysis that weighed the sources of future oil supply against the prices that would -LSB-...]

Oil supply is the biggest factor weighing on oil prices, and Iran's return to the market appears to be one of the most difficult supply sources to forecast.

In March this year, the International Energy Agency (IEA) said that unless the industry approves fresh investments in new projects, global oil supply may be struggling to catch up with demand after 2020, which could result in a sharp jump in oil prices.

It was driven by growing Chinese and other Far East demand and by dwindling oil supplies following the peak of conventional production in 2005.

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.

This means that new oil supply can come back on stream profitably — especially in US shale plays — at lower prices than before, perhaps putting a lid on further price increases.

The paper's authors apply a simple model of the world oil market to reach their conclusions, which are driven by the potential for the pipeline to increase global oil supply, thus lowering oil prices and increasing consumption.

However, it's certainly incorrect to assume that the existence of single pipeline impacts all oil sands supply costs, or that not allowing it would render that oil supply unavailable at any price.

Crude oil prices have the potential to react strongly to supply disruptions because U.S. oil supply is below the five - year average.

Iran is expected to add half a million barrels of oil supply a day within a year from its existing oilfields after the lifting of sanctions against Tehran in January, Continue Reading

Saudi Arabia cemented its position as India's top crude oil supplier in February, exporting 60 % more crude than it did in February 2015 and 24 % more than January, and leaving Continue Reading

This, along with a potentially improving oil supply picture, would contribute to a reduction in the imbalance of market fundamentals in the coming months.»

Global oil supply fell in August for the first time in four months, the IEA said, a result of a dip in OPEC's oil production, combined with refinery maintenance and sizable outages from Hurricane Harvey.

In a world of dwindling oil supplies and steadily mounting demand, there is no such thing as cheap oil.

Canada is potentially vulnerable to supply disruptions resulting from states» decisions to withhold oil supplies from world markets or from damage to oil supply chains by nonstate actors or natural disasters.

In March this year, Saudi King Salman visited China and signed US$ 65 billion worth of potential deals including deals in oil supply and petrochemicals.

In fact, some analysts warned everyone not to get too excited, not least because oil supply is still expected to grow by quite a bit through next year.