Name: Why oil prices are rising
Uploaded: 2018-05-10T09:30:22.000Z
Duration: 1 min 16 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Adverbs of degree

Just a few years ago, the fall on oil prices was so dramatic,

tumbling more than 75%, but crude is staging a comeback,

First, demand is much higher than anticipated.

Especially from countries like China, India, Japan, and South Korea.

World consumption is expected to cross 100 million barrels per day in the coming months.

Even though the United States is flooding the market with crude — the most in 40 years —

other major players are doing exactly the opposite.

The two largest oil exporters, Saudi Arabia and Russia, are taking millions of barrels off the market to drive up prices.

And other big suppliers like Venezuela, Libya, and Nigeria are dealing with economic and political crises at home.

That's limiting how much they can produce.

Yemeni missile launches into Saudi Arabia,

ongoing tensions with regards to the Iran nuclear agreement,

All these forces combined have the market worried, and driving up that price of crude.