Sentences with phrase «unexpected decline in oil prices»

Not exact matches

The price drop is an unexpected turn of events for an industry that for decades has operated under the assumption of Peak Oil — geophysicist M. King Hubbert's theory, first proposed in 1956, that the United States» then soaring oil production would peak and begin to decline around 19Oil — geophysicist M. King Hubbert's theory, first proposed in 1956, that the United States» then soaring oil production would peak and begin to decline around 19oil production would peak and begin to decline around 1970.

One option would be to accept accept that the «unexpected» decline in oil prices has changed everything.

Fast forward 6 months and the global energy market is in a state of flux with oil prices having declined approximately 50 % due to robust and unexpected supply growth.