Sentences with phrase «production cutbacks»
"Production cutbacks" refers to a reduction in the amount or rate at which something is being produced. Full definition
At the same time, production cutbacks initiated by OPEC last year have helped whittle down oil supplies.
cnbc.com
The energy and utility issues made some progress today, as the price of crude oil (now at over $ 52 a barrel) moved higher on hopes of production cutbacks.
That could force production cutbacks if there is no place to store the crude.
Meanwhile, there also is a full plate of economic news this week, but all of that, and the latest rise in oil quotations following the agreement between OPEC and non-OPEC oil members on production cutbacks, probably will take a backseat to the Fed.
Crude oil prices are under pressure again as global growth fears seem to outweigh oil production cutbacks.
At the same time, production cutbacks initiated by OPEC last year have helped whittle down oil supplies.
Sinclair attributes the higher prices to a combination of factors including «the effects of the production cutbacks by OPEC and non-OPEC foreign producers finally kicked in, not to mention speculative money going into crude oil futures.»