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    sharan kommi
    OPEC unexpectedly decided to cut oil production quotas by 1 million barrels per day from April, despite oil prices being above $30 per barrel. An OPEC oil minister explained this was due to concerns about a price collapse as winter demand declines and spring demand is lower. However, some argue this could backfire by causing sharp price spikes due to currently low global oil inventories providing little cushion. The number of deer in Britain has increased to over 1.5 million, the most since the last Ice Age, partly due to milder weather but also because more farmers now plant grain and rapeseed in autumn rather than spring. This provides food for deer over winter but has contributed to declines in some bird populations as there

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    OPEC unexpectedly decided to cut oil production quotas by 1 million barrels per day from April, despite oil prices being above $30 per barrel. An OPEC oil minister explained this was due to concerns about a price collapse as winter demand declines and spring demand is lower. However, some argue this could backfire by causing sharp price spikes due to currently low global oil inventories providing little cushion. The number of deer in Britain has increased to over 1.5 million, the most since the last Ice Age, partly due to milder weather but also because more farmers now plant grain and rapeseed in autumn rather than spring. This provides food for deer over winter but has contributed to declines in some bird populations as there

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    OPEC unexpectedly decided to cut oil production quotas by 1 million barrels per day from April, despite oil prices being above $30 per barrel. An OPEC oil minister explained this was due to concerns about a price collapse as winter demand declines and spring demand is lower. However, some argue this could backfire by causing sharp price spikes due to currently low global oil inventories providing little cushion. The number of deer in Britain has increased to over 1.5 million, the most since the last Ice Age, partly due to milder weather but also because more farmers now plant grain and rapeseed in autumn rather than spring. This provides food for deer over winter but has contributed to declines in some bird populations as there

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    31 views1 page

    Main Idea

    Uploaded by

    sharan kommi
    OPEC unexpectedly decided to cut oil production quotas by 1 million barrels per day from April, despite oil prices being above $30 per barrel. An OPEC oil minister explained this was due to concerns about a price collapse as winter demand declines and spring demand is lower. However, some argue this could backfire by causing sharp price spikes due to currently low global oil inventories providing little cushion. The number of deer in Britain has increased to over 1.5 million, the most since the last Ice Age, partly due to milder weather but also because more farmers now plant grain and rapeseed in autumn rather than spring. This provides food for deer over winter but has contributed to declines in some bird populations as there

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    7. Will China and Russia be the new Axis of Oil? Supply and demand
    trends, plus this week’s surprise from the OPEC cartel, suggest that these
    emerging giants may yet up-end energy market.
    With oil prices above $30 a barrel, OPEC was not expected to cut output
    quotas at its meeting in Algeria this week, merely to clamp down on
    quota busting, which adds some 1.5m barrels per day (bpd) to official
    quotas of 24.5m bpd. But, on February 10th, it agreed to cut quotas by 1m
    bpd from April.
    Why? “The second quarter is a bad quarter,” explained one oil minister.
    He was talking of the risk of price collapse as the northern-hemisphere
    winter (when demand peaks) gives way to warmer spring (when oil use
    declines). Yet, OPEC may be playing with fire. Edward Morse of
    HETCO, an energy trader, points out that inventories are currently
    unusually low. Even if OPEC cuts output by half of what it threatens, he
    says, there may still be sharp price spikes: “There’s no cushion left.”
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    8. There are now, according to Ben Bradshaw, a farming minister, about
    1.5m deer roaming Britain—more than at any time since the last Ice Age.
    One reason is milder weather. Another is that farmers increasingly sow
    grain and rape seed in autumn rather than spring, because crops grow
    more vigorously in spring and so produce better yields. That provides
    fodder for deer in winter. At last, it seems, an agricultural technique
    which improves farmers’ profits and boosts wildlife.
    Not quite. Autumn planting may help see deer through hard times. But it
    is also blamed for a decline in numbers of certain bird species.
    Graham Appleton, of the British Trust for Ornithology, says that autumn
    and winter planting means less grain lying around fields in winter.

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