Sentences with phrase «reduce global oil»

More than a month after shocking the market by saying that Russia was ready to join OPEC's efforts to reduce global oil supply, Russian President Vladimir Putin said that his country was ready to freeze production at «today's level», injecting more optimism that OPEC and non-OPEC producers might really pull off a deal.

Crude oil prices have jumped to almost one - year high's on Monday in a shocking turn of events as Russian President Vladimir Putin disclosed that Russia was ready to join the cartel's efforts to reduce global oil supply.

OPEC officials this week hailed implementation of the deal as «excellent» but also said that they were still waiting for evidence of its success in reducing the global oil glut.

Not exact matches

On the demand side, oil at $ 80 could hurt global oil demand growth, which was the tailwind last year to help OPEC significantly reduce the oversupply.

The prospects for an oil price recovery are still unclear, van Beurden said, despite attempts by OPEC and other producers to agree a deal to limit output and reduce the global glut which has pushed oil prices down by 50 % since June 2014.

Saudi Arabia wants to turn hundreds of kilometers of its Red Sea coastline into a global tourism destination governed by laws «on par with international standards» as part of its plan to transform the economy and reduce its reliance on oil.

According to the International Energy Agency, reducing pollution to levels consistent with limiting climate change to less than two degrees would see 715 million EVs cruising the streets in 2040 — which would also shrink global oil demand by 20 % relative to today.

Increase in US production now threatens to undermine efforts by the Organisation of Petroleum Exporting Countries (OPEC) and some non-members to reduce the global oversupply of oil.

He did manage to rattle off the well - known facts: the oilsands account for only of 1 / 10th of 1 % of global emissions; the pipeline would create thousands of American jobs; Canada has already reduced the emission intensity from heavy - oil extraction by 25 %.

Robust US production now threatens to undermine efforts by the Organisation of Petroleum Exporting Countries (OPEC) and some non-members to reduce the global oversupply of oil.

Robust oil demand growth and reduced global stockpiles have instilled confidence in the oil market lately.

Lackluster global economic growth in 2014 and 2015 correspondingly reduced the demand for a wide range of commodities, including oil.

But for now, our working assumption is that global oil demand could be reduced by at least 600,000 bpd in September because of the two hurricanes.

Joint cuts of 1.8 million b / d have reduced OECD oil inventories towards their five - year average and cleared most of the global glut, with the Saudis cutting even deeper than agreed in an attempt to lift prices well above US$ 80 before selling off shares in Aramco.

In 2016, the Organization of Petroleum Exporting Countries, headed by Oil Major Saudi Arabia, made an agreement between its members and a number of non-member countries to cut their oil production and reduce the global glut that had pushed prices so lOil Major Saudi Arabia, made an agreement between its members and a number of non-member countries to cut their oil production and reduce the global glut that had pushed prices so loil production and reduce the global glut that had pushed prices so low.

Back in 2014 and again in 2016, OPEC producers curtailed output and reduced the global supply overhang that had depressed oil prices.

Michael Rawlinson, Global Co-Head of Mining and Metals at Barclays, commented that while the sharp drop in oil prices has reduced costs for mining companies it has also added to uncertainty in the market and could prolong the wait for the commodity cycle to turn upwards again.

Protests in Libya and oil theft in Nigeria have reduced global supply and violence in Iraq has led to concerns that oil production may be cut from the country in the future.

If in the 1970s we had begun a program of efficient use and switching gradually to other sources of energy, «peak oil» would remain quite far in the future and there might still be some chance to reduce global warming.

Airlines are under pressure to reduce their carbon emissions, and are highly vulnerable to global oil price fluctuations.

The issue is not whether the U.S. can significantly reduce its reliance on oil imports with domestic, offshore oil, say both Kaufman and Nathan, but whether there is enough that is recoverable to significantly lower the price of a barrel of oil on the global market.

In the future, it is expected to reduce reliance on fossil fuels such as oil, coal or gas and help tackle major challenges such as climate change and global population growth.

It will keep us on track to reduce oil use by 2.4 million barrels a day, cut global warming emissions and keep American - made vehicles competitive in a rapidly - changing global market,» he said.

Habitat is being disturbed and polluted by offshore oil development in the Chukchi and Beaufort seas, and as CO2 warms our planet, the arctic ice pack is rapidly melting; the whales are in danger from noise, oil spills and deadly collisions with ships, while global warming is steadily melting their icy abode and reducing available food.

«As global energy demand grows over this century, there is an urgent need to reduce our dependence on fossil fuels and imported oil and curtail greenhouse gas emissions,» said Secretary of Energy Steven Chu.

@barbecue - that's actually correct, at least indirectly — the lighter oil weights are used to improve fuel economy and fuel economy ratings are driven (at least in part) due to the desire to reduce greenhouse gases that contribute to global warming.

Through the Paris climate agreement and discussions with other countries, the United States is working with other major economies to encourage progress on fuel economy standards, and reduce greenhouse gas emissions that will improve global energy and climate security by reducing our reliance on oil.

Following the direction set by President Obama on May 21, 2010, NHTSA and EPA have issued joint Final Rules for Corporate Average Fuel Economy and Greenhouse Gas emissions regulations for model years 2017 and beyond, that will help address our country's dependence on imported oil, save consumers money at the pump, and reduce emissions of greenhouse gases that contribute to global climate change.

For example, we reduced our overweight in Energy in recent quarters and have pivoted away from domestic onshore drillers to global players that have exposure to off - shore oil deposits that have traditionally enjoyed higher margins than onshore producers during a full energy cycle.

Net energy gain is going down (it's more energy intensive to pump oil out of deep water than out of a ground - based well under pressure) coupled with peak oil that is either here or near in time, and global warming mandates reducing carbon emissions.

Although global warming will certainly be bad in itself, the likely prospect of beyond peak oil will compound the situation drastically, with little help to reducing forcings and the rate of global warming.

This would serve multiple purposes, of (a) weaning us from dependence on foreign oil and simultaneously depleting terror - exporting countries of their revenue stream, (b) reducing other pollutants besides CO2, (c) encouraging a more gradual and less economically disastrous transition from an economony based on a finite resource, (d) slow global warming, (e) move us in the direction of a VAT tax rather than an income tax (actually, personally I don't think e is such a great thing, but as many conversative groups favor it, I don't see why they would oppose a revenue - neutral tax on fossil fuels.

There is no evidence that Keystone XL will reduce the global price of oil, as Levi states — it's too big a pool.

Global Warming Solutions Wealthy Countries Should Pay «Rainforest Utility Bills» for Ecosystem Services Rendered: Prince Charles Indigenous Rights Crucial to Reducing Carbon Emissions from Deforestation Rainforest Preservation Can Be More Profitable Than Palm Oil Plantations: New Study Shows

The recent energy price shocks from Hurricane Katrina remind us of the need to conserve to help the victims, and reduce our dependency on oil,» explained Global Green President Matt Petersen.

-- Seeking the creation of an organization of oil - importing countries (an OPIC, not an OPEC) to collaborate on reducing global dependence on oil.

Without the safeguard, REDD monies projected to help developing countries protect their remaining forests and reduce the 25 percent of global greenhouse gas emissions caused by deforestation, forest degradation and peatland destruction could instead allow industrial - scale logging and replacement of tropical forests with pulp or palm oil plantations.

An IEA collective action would be initiated in response to a significant global oil supply disruption and would involve IEA Member Countries making additional volumes of crude and / or product available to the global market (either through increasing supply or reducing demand), with each country's share based on national consumption as part of the IEA total oil consumption.

From The Guardian: «The connection to the chemical firm Solvay suggests opposition to action on global warming, once spearheaded by big oil, is spreading to other industries that will also be affected by proposals to reduce emissions of carbon dioxide and five other greenhouse gases.»

Two policy initiatives that can together significantly reduce oil use by 2030, and help launch a new global industry in the process — difficult to achieve solely with new plug - in vehicles — are:

After the precipitous fall in global oil prices, even the world's biggest petroleum exporter is now forced to reduce its reliance on fossil fuels.

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Now that the US has greatly increased sources of oil and natural gas thanks to drilling using new technology (thus obviating the need for depending on the Middle East), renewable energy advocates have fallen back on their claims that fossil fuel use must be reduced to avoid catastrophic anthropogenic global warming.

By increasing fuel economy, producing better biofuels, and investing in electric vehicles, we can cut our oil use, reduce global warming emissions, and clean up our air.

«Critically, the greatest impact will — initially — not be directly from reduced demand, but from the consequent pressure on commodity prices,» said Spedding who was previously global co-head of oil and gas research at HSBC.

If global warming accelerates, Schneiderman's logic goes, then Exxon would be stuck with fossil fuel reserves rendered worthless by future regulations or a concomitant reduced demand for oil.

Replacing oil with cleaner fuels can help reduce global warming emissions — but it depends on how the fuels are made and what they're made from.

We need a global programme whose purpose is to leave most coal and oil and gas reserves in the ground, while developing new sources of power and reducing the amazing amount of energy we waste.

We should be pursuing multiple paths to improve air quality, reduce global warming and lessen dependence on foreign oil.

Canada must slash oil and gas emissions to meet 2020 target: report WASHINGTON, April 2 (Reuters Point Carbon)-- Canada should reduce the emissions it projects for its lucrative oil and gas sector 42 percent by 2020 in order to meet its global pledge to slash its emissions 17 percent below 2005 levels, a think tank said on Tuesday... http://www.pointcarbon.com/news/1.2257967?&ref=searchlist