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
23
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 "take a similar turn" mean in the last paragraph?
选项
A、The oil price keeps on the rise.
B、OPEC members take the same cutting strategy.
C、The oil price keeps the same as before.
D、World economy experiences the same situation as in 1998 and 2001.
答案
D
解析
语义理解题。文章第五段写到1998年和2001年世界经济发展减缓时,OPEC采取了一系列的减产措施,油价才最终稳定下来。紧接着作者提出 if events take a similar turn,可知这里是说如果世界经济再一次出现前两次的情况,D 符合题意。
转载请注明原文地址:https://tihaiku.com/zcyy/2998081.html
相关试题推荐
Energyanalystsspentthefirsthalfoftheyeardebatinghowexpensiveoil
Energyanalystsspentthefirsthalfoftheyeardebatinghowexpensiveoil
Energyanalystsspentthefirsthalfoftheyeardebatinghowexpensiveoil
Itishardlysurprisingthatsomethingcalleddarkenergyishardtostudy.
Itishardlysurprisingthatsomethingcalleddarkenergyishardtostudy.
Itishardlysurprisingthatsomethingcalleddarkenergyishardtostudy.
Itishardlysurprisingthatsomethingcalleddarkenergyishardtostudy.
Youcouldfillastorewithalltheenergydrinksnowavailable.Theypromi
Youcouldfillastorewithalltheenergydrinksnowavailable.Theypromi
[originaltext]Solarenergyforyourhomeiscoming.Itcanhelpyouasasingle
随机试题
Accordingtoa【B1】______,about25percentofcollegestudentshaveapart-t
关于多层建筑场地消防车道设计的规定,下列哪个选项是错误的?A.建筑的沿街部分超过
若钢筋机械连接接头现场检验的抗拉强度试件中有1根强度不符合要求,则应()。
经处理过的海水也不可用于钢筋混凝土和预应力混凝土。
下列有关相关系数的说法中,不正确的是( )。A.相关系数等于1时,组合不能降低
舌苔不规则脱落,边缘突起,界限清楚的是A.类剥苔 B.花剥苔 C.糙苔 D
牛放线菌37℃厌氧培养18小时菌落特点为A:凸起、边缘整齐、颗粒状菌落B:扁平
等截面轴向拉伸杆件上1、2、3三点的单元体如图示,以上三点应力状态的关系是(
以下何脉象不主痰饮A.滑脉 B.弦脉 C.促脉 D.革脉
血液中的白细胞包括()A.中性粒细胞 B.嗜酸性粒细胞 C.嗜碱性粒细
最新回复
(
0
)