Word: glut
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...inflation far more rapidly than expected. The pace of consumer price hikes slowed from 12.4% in 1980 to 8.9% in 1981. TIME's economists forecast that inflation will cool further to 6.5% this year. The progress is partly a result of bumper grain crops and the worldwide oil glut, which have moderated food and energy prices. More important, the slump has prodded many unions, from the Teamsters to the United Auto Workers, to scale back their wage demands. Said Greenspan: "We're looking at a very significant slowing in the inflation rate. There has been a fundamental change...
After years of heading mainly up and up, the price of oil has lately been heading down and down. Conservation and the weakening world economy have created a continuing supply glut, forcing major oil producers to lop dollars off their prices in order to attract buyers...
...contrast to this trend, Harvard may formally reduce the size of its Med School classes within the next ten years because of the glut of doctors on the market, Paul said...
Exxon's action last week was made much easier by the current world glut of oil. The major petroleum companies are now well stocked with crude because consumption has been falling. Rather than causing a shortage of petroleum, the loss of Libyan production will just mean a little less for Exxon to put into storage tanks...
OPEC members arrived in Geneva resigned to lowering their official price toward the Saudi level, if the Saudis would reduce their production to eliminate the petroleum glut. Even though the meeting started eleven hours after the Senate agreed on the sale of AWACS planes to Saudi Arabia, the action in Washington had no effect at all on oil politics at the session...