Examples of using Global inventories in English and their translations into Vietnamese
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Global inventories may stop falling in the early part of this year with the onset of new supplies, the agency said.
That mantra made sense in 2015 andin the first half of 2016 as global inventories soared and supply outstripped demand.
Global inventories have eased back close to their five-year average, the measure originally targeted by OPEC and its allies.
Saudi production reportedly hit a record high 11 million barrels per day(mb/d)at times this month, and global inventories are rising once again.
But global inventories remain high, pulling crude back below $50 per barrel and putting pressure on OPEC to extend the cuts to the rest of the year.
The outlook for global supply and demand indicates that global inventories will remain fairly comfortable for at least a few years.
Global inventories are likely close to their five-year average, although because data is published with two-month lag, it is hard to tell in real time.
We are determined to do whatever it takes to bring global inventories down to the normal level which we say is the five-year average,” Falih told Reuters.
Oil markets remain well supported due to supply restraint by the Organization of the Petroleum Exporting Countries(OPEC),which started last year in order to draw down excess global inventories.
Crude and product stocks in the United States are the most transparent andhigh-profile element of global inventories thanks to the weekly records published by the EIA.
More than a third of GIQ respondents(77%) said that increases in shale oil production- notably from the US-would continue to undermine the OPEC+ group's efforts to reduce global inventories.
RBC Capital Markets said,"a strong indicator that global inventories are being run down will be when the market starts relying on U.S. exports to fill deficits.".
Analysts at Bernstein Energy said the coming quarter was a"make orbreak" one for OPEC as the producer group fights to cut global inventories back to their five-year average.
Last week,Saudi Arabia's Energy Minister Khalid al-Falih admitted that global inventories would not have fallen to their five-year average by March 2018, so an extension“of some sort” is needed.
Despite the numerous‘compliance is great' remarks in recent months by senior OPEC officials, production is down, demand is up,nobody is cheating, and global inventories are falling;
Since the pact started a year ago, global inventories have fallen and prices risen by more than $20 a barrel, but in a rare display of unanimity at an OPEC meeting ministers agreed the job wasn't yet complete.
Oil prices hovered near their lowest levels in seven months early on Thursday,hurt by high global inventories and doubts over OPEC's ability to implement production cuts.
Bloomberg- Byron Wien, the 79 year-old chairman of Blackstone Group LP's advisory services unit, is forecasting an annual drop in oil prices for the firsttime in his career as swelling production pushes global inventories higher.
The EIA said in its Short-Term Energy Outlook that it expects global inventories to fall modestly in 2017 but to increase again next year because of shale growth combined with production increases in Brazil and other non-OPEC countries.
Oil prices closed above $60 a barrel for the first time since mid-2015 on the final trading day of the year, ending 2017 with a12 percent gain spurred by strong demand and declining global inventories.
Putting supply and demand together, the IEA predicts that global inventories should have drained at a rate of 0.7 mb/d in the second quarter, although incoming data suggests the drawdowns might not have actually occurred at such a pace.
Bloomberg has just recently reported that Byron Wien, the 79 year-old chairman of Blackstone Group LP's advisory services unit, is forecasting an annual drop in oil prices for the firsttime in his career as swelling production pushes global inventories higher.
One goal is to reduce oil exports to the most transparently reported market, the U.S.,for the shorter-term target to have global inventories drop to adequate average levels, rebalance the market, and consequently- hopefully for the Saudis- prop up oil prices.
While upside price risks will prevail for now, fundamental data outside of Iran has not turned bullish in our view,” Goldman wrote, citing the surge in Saudi production over the last few months,which increased global inventories counter-seasonally.
Oil prices rose early on Tuesday as some analysts said markets mightnot be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere.
Geopolitical tension in the Middle East and intermittent supply outages in the likes of Nigeria and Iraq have pushed oil above$60 a barrel for the first time since 2015, while global inventories have fallen, prompting many market watchers to raise their price forecasts.