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Exact(5)
Over the year, OPEC raised production four times, lifting output by 3.7 million barrels a day.
Now the company is trying to make amends by trimming unpopular refining spending and lifting output goals.
Buy America had far more impact in the 1930s and in the early 1980s, two other periods in which Congress enacted similar measures with the goal of generating good jobs in manufacturing and lifting output.
Reconstruction after the war had boosted growth; the movement of workers out of farming and into industry had raised both productivity and GDP; and many more women had entered the labour force, lifting output.
These supply-side shocks have the special feature of lifting output supply as productivity of workers is higher.
Similar(55)
Unlike ConocoPhillips, Exxon is continuing to lift output.
It rejected calls from oil consumers, including the United States, to lift output.
This comes after a range of measures introduced by the government to try to lift output.
Crude oil fell 3percentt on expectations that producers will lift output restraints that have caused world inventories to plummet.
Moreover, pressure from the United States and other countries to lift output appears to be having some effect.
Crude oil rose after the International Energy Agency warned of possible shortages unless OPEC lifts output more than expected.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com