Word: glut
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
Carlos never showed, and the real specter hanging over the meeting was the growing worldwide glut of oil. During recent months the world has been awash with excess production of some 2 million bbl. per day, and Western oil stocks are currently 25% above pre-1973 embargo levels. Producers like Libya and Algeria, even while arguing for an official price hike, have been shaving their market prices by 40¢ or more per barrel...
...city's threat to rent control by conversion is seen much more as a potential than as a current phenomenon. Harlow Properties plans to convert all 500 of its housing units and has only been prevented by a marketing study that urged a delay in order to prevent a glut. Unchecked, the conversions will whittle away at the supply of available low and middle income housing. The elderly in Cambridge are especially vulnerable, as most live on fixed incomes and find it difficult to find new apartments and to move...
...slippery statistics impress the public far less than do the headlines that new production from Alaska, Mexico and the North Sea has created an oil glut, forcing Saudi Arabia and Kuwait to make small discounts in prices (TIME, Sept. 26). Small wonder that a recent New York Times/CBS poll showed that 57% of those questioned thought the energy situation less serious than the Administration says...
When supplies of anything get too large for their markets, prices come down-or at least they should. For all the power of the OPEC cartel, oil is proving to be no exception. A worldwide glut has developed as new supplies from the North Sea, Alaska and Mexico supplement oil from the Middle East and South America -at a time when the shaky world economic recovery cannot absorb all of it. One result: price shaving by most of the big producers. Kuwait, Iran and Saudi Arabia are all offering slight discounts of 100 to 300 off the price (about...
Alas for consumers, the glut that is bringing on the discounting is not expected to last beyond the end of the year. Colder weather will then eat into stockpiles and redress the oversupply imbalance. In December, when OPEC's oil ministers meet again, prices could...