首页
登录
职称英语
Energy analysts spent the first half of the year debating how expensive oil
Energy analysts spent the first half of the year debating how expensive oil
游客
2023-09-09
30
管理
问题
Energy analysts spent the first half of the year debating how expensive oil could get. Now they are asking the opposite question. On December 2nd the price of a barrel slipped below $ 47, the lowest level since May 2005 and legs than a third of the peak reached in July.
The main reason for the slump is the darkening outlook for the world economy. America’s appetite for oil, for example, had been more or less stagnant(停滞的) for the past few years, but has recently dropped dramatically. Many now expect global oil demand to fall next year, and perhaps even this year -- which would be the first decline since 1993.
The Organization of the Petroleum Exporting Countries (OPEC) does not seem able to cut its production fast enough to keep pace with all this grim news. In October the cartel agreed to pump 1.5 million fewer barrels each (lay from November 1st, reducing global supply by about 2%. But that cut is only just beginning to take effect, since it can lake more than a month for tankers to reach their destinations. Moreover, OPEC’s members do not yet seem to be complying fully with their diminished quotas.
The king of Saudi Arabia recently "said that $75 a barrel would be a fair price --- an idea that other members of the cartel have echoed with enthusiasm. Oil’s plunge has left many of them in dire fiscal straits. This suggests that when the group meets again on December 17th, it will resolve to cut its production further. But Saudi Arabia will not want to bear all the cost, so it will insist that other big producers, such as Iran and Venezuela, should not only agree to further cuts of their own but also implement them.
Michael Lewis of Deutsche Bank argues that OPEC’s past efforts to prop up prices have succeeded more often than not. Since 1993, cuts in production have led to higher prices on three-quarters of occasions. The exceptions, however, have occurred when the world economy has slowed unexpectedly -- most notably in 1998, after the Asian crisis, and in 2001, after the dotcom bubble burst. On those occasions, the price kept falling for more than six months after OPEC first began reducing its output. In 2001, for example, the cartel had to resort to a series of cuts, totaling 5 million barrels, before the price finally began to recover.
If events take a similar turn this time, Mr. Lewis reckons, OPEC will have to keep cutting its output for another year. The price may not hit rock bottom until early 2010. But the world economy looks less healthy now than it did in 2001, so OPEC may face even more of a struggle this time, he thinks. [br] What does the author tell us about the general condition of oil price this year?
选项
A、The oil price underwent decline in the first haft year and rise in the second haft.
B、The oil price in July is higher than $141 per barrel.
C、The stagnant situation of America’s appetite caused oil price decline.
D、Oil price decline may. account for the world economy’s darkening outlook.
答案
B
解析
事实细节题。由定位句可知,油价上半年急剧飙升,而下半年却又迅速下滑。其中本段第三句提到On December 2nd the price of a barrel slipped below $47, ... less than a third of the peak reached in July,可算出今年 7月份的油价高于141美元,B 符合题意。
转载请注明原文地址:https://tihaiku.com/zcyy/2998077.html
相关试题推荐
Flyingdemandsamuchgreatersupplyofenergy__________(比其他运输方式).thandomost
Energyanalystsspentthefirsthalfoftheyeardebatinghowexpensiveoil
Energyanalystsspentthefirsthalfoftheyeardebatinghowexpensiveoil
Itishardlysurprisingthatsomethingcalleddarkenergyishardtostudy.
Itishardlysurprisingthatsomethingcalleddarkenergyishardtostudy.
Energyconservationreducesyourfuelbills_____________(还有利于环境).aswellash
Youcouldfillastorewithalltheenergydrinksnowavailable.Theypromi
Youcouldfillastorewithalltheenergydrinksnowavailable.Theypromi
Youcouldfillastorewithalltheenergydrinksnowavailable.Theypromi
[originaltext]Solarenergyforyourhomeiscoming.Itcanhelpyouasasingle
随机试题
[originaltext]M:WelcometoABCElectronics.First,letmegooverwhatwedoi
FlorenceNightingaleenteredthehospitalandwasappalledandhorrifiedby
教师要有爱,爱是教育的灵魂,我同意这种说法。
第一次卫生革命的主要防治对象是A.传染病 B.寄生虫病 C.地方病 D.慢
下列关于预制梁板施工说法正确的是()。A:先张法施工的张拉台座应釆用重力式混凝
双侧肾动脉狭窄患者应禁用A.α受体阻滞剂 B.中枢交感神经抑制剂 C.钙通道
下列关于维生素D与维生素D叙述正确的是A.维生素D的用途与维生素D不同B.二者互
医疗事故是指医疗机构及其医务人员在医疗活动中,违反医疗卫生管理法律、行政法规、部
2005年“中央一号文件”再次锁定“三农”,从去年的“促进农民增收”到今年()。
与普通股票相比,优先股票的特点在于( )。A.优先股的股息与公司的盈利状况无关
最新回复
(
0
)