Sentences with phrase «recent crash in oil prices»

Not exact matches

US oil exploration companies have flocked to the superrich Permian Basin in recent years and used shale - drilling technology to create an oil boom that simultaneously helped trigger a price crash two years ago.

This eye - catching graph pops out of a report published by Boston Consulting Group on January 21: it illustrates how the current oil price crash, while not (yet) the deepest in recent memory, is the longest - lasting — and counting.

Foreign exchange has been an area of some concern for Saudi in recent months as the crash in the price of oil forced the country to expend its FX reserves to levels not seen in over three years, and draining the country's economy.

However, the fact that the average quantity of frack sand used per well has more than doubled in recent years — which has helped lower the breakeven price of U.S. shale oil — should help insulate the industry from the worst of the oil crash.

Russia is doing quite well from its oil and natural resources (except for the recent oil price crash) and has no interest in using the wealth to annex and prop up former soviet states in eastern Europe (although they do want their port in Crimea).

Since prices crashed, oil companies have delayed or cancelled $ 200 billion in projects, and nearly 30 percent of those are in the oil sands, according to a recent Wood Mackenzie report.