Sentences with phrase «supply overhang»

Oil prices dipped during afternoon trade on Monday, erasing gains supported by a political rift in the Middle East, before investor concerns over a global supply overhang returned.

Oil prices slipped on Friday as the market refocused on a persistent fuel supply overhang that is not expected to abate unless OPEC and other producers cut their output significantly.

Nonetheless, exuberant lenders financed the projects, and the vast supply overhang fueled a downturn that resulted in depressed properties trading for pennies on the dollar.

U.S. average valuations have since slipped below trend amid a large and growing supply overhang and weakening demand.

The report says that in contrast to the United States, there is still scant evidence of a significant supply overhang in Canada.

Saudi Arabia and Russia have led an ongoing effort by OPEC and other allied oil producers outside the cartel to try to clear a global supply overhang.

Oil prices slipped on Friday as the market refocused on a persistent fuel supply overhang that is not expected to abate.

The production cuts agreed by Saudi Arabia, Russia and 10 other allied producers are aimed at clearing a supply overhang and propping up prices.

The production cuts by OPEC and 10 other allied producers, which are scheduled to last throughout 2018, are aimed at clearing a supply overhang and propping up prices.

Riyadh and Moscow have been engaged in supply cuts over the past year in order to try to clear a global supply overhang and keep prices in check.

OPEC, Russia and several other allied producers have spearheaded an ongoing effort to try to clear a global supply overhang and prop up prices.

Meanwhile, the International Energy Agency (IEA) said the supply overhang could run into a third year in 2017, should OPEC fail to act.

The International Energy Agency said in its latest Oil Market Report that the supply overhang has pretty much vanished, thanks to OPEC's efforts at limiting production.

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

In this period, oil prices have grown from $ 54 to above $ 70 per barrel and analysts have reported the supply overhang has almost been eliminated.