Word: crude
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...align their official rates with sagging world petroleum markets, nine of the 13 OPEC members reshuffled the prices of a variety of crudes they sell; the effect was to reduce the weighted average cost of an OPEC barrel of oil by 29 cents, although some grades will drop by more than $1. It was only the second price cut in the organization's 25-year history. The first came in March 1983, when sliding world crude prices forced OPEC to mark down its Arab Light benchmark crude...
Last week's agreement largely settled a long-festering dispute over the price differentials between two major grades of oil, light and heavy. The light-crude producers like the United Arab Emirates needed lower official prices in order to remain competitive with less expensive heavy oil produced by countries like Kuwait and Venezuela. The group also took the symbolic step of abandoning Arab Light as the bench-mark price for all OPEC crude. Arab Light, once the world's most important oil, is now just another grade struggling in a world awash in oil. Admitted OPEC's current chairman, Subroto...
Norway, a non-OPEC oil producer, touched off the cartel's current troubles last October by cutting the price of its North Sea crude by $1.50 per bbl., to $28.50. Britain quickly followed Norway, which inspired OPEC member Nigeria to undercut both competitors and sell its oil for $28. OPEC tried to brake the price slide in October by reducing the output quota for its members from 17.5 million bbl. a day to 16 million in hopes that lower supply would mean higher prices. At the time, the group predicted confidently that as soon as oil refiners began building their...
There are usually two crude drawings, side by side. Mr. Before, the bald- headed man on the left, stares glumly into a future of rejection, loneliness and despair. No bright-eyed new friends for him. Mr. After, who has doused himself with Yuppiegoo, now sprouts a coiffure worthy of Mick Jagger, and he smiles toward a future of romance and success. Dom Perignon in the Bahamas, white tie. Yours for only $1.98, or some such, say those little ads that have long appeared, along with offers of trusses and tattooing kits, in the back pages of the hairier...
...latest run on the pound was triggered primarily by concerns about the future of world oil prices. Because of the current glut in crude, petroleum + prices have been sliding for several months. Britain earns nearly $13 billion from the export of oil, and lower prices would be a serious blow to its economy...