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Oversupply of oil in the 2010s
financial troubles for them as oil revenue dried up. 1980s oil glut 2000s energy crisis 2020 Russia–Saudi Arabia oil price war 2021–2023 global energy
2010s_oil_glut
Significant surplus of crude oil
The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis. The world price of oil had peaked
1980s_oil_glut
Topics referred to by the same term
Oil glut may refer to: 1980s oil glut 2010s oil glut This disambiguation page lists articles associated with the title Oil glut. If an internal link incorrectly
Oil_glut
Spot price of a barrel of benchmark crude oil
1973 oil crisis, the Iranian Revolution in the 1979 oil crisis, the 2008 financial crisis, and the 2010s oil glut that led to the "largest oil price
Price_of_oil
Point in time when the maximum rate of petroleum extraction is reached
energy law Economics 2000s commodities boom 2010s oil glut 2020 stock market crash 2020 Russia–Saudi Arabia oil price war 2020s energy crisis Carbon bubble
Peak_oil
Worldwide increase in crude oil prices following the Iranian Revolution
leading to the subsequent 1980s oil glut. Energy portal 1979 world oil market chronology 1973 oil crisis 1980s oil glut 2000s energy crisis 2026 Iran war
1979_oil_crisis
Classification of crude oil that serves as a major worldwide benchmark price
petroleum—sweet crude oil and light crude oil—first extracted from the Brent oilfield in the North Sea in 1976. The term Brent Crude also identifies the oil-well Brent
Brent_Crude
Grade of crude oil used as a benchmark in oil pricing
Brent before 2011, but since the shale oil boom in the 2010s it has been traded at a discount against Brent crude oil. Both the volatility of the WTI/Brent
West_Texas_Intermediate
Anti-government protests
it entered downward spiral until 2016 when it rose back to $40s. The 2010s oil glut was proven to be catastrophic for Latin American countries. In Venezuela
Latin_American_spring
Type of petroleum
called sour crude oil. Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. High-quality, low-sulfur crude oil is commonly used
Sweet_crude_oil
Naturally occurring combustible liquid
has been abundantly pushed by automobile sector growth. The 1985–2003 oil glut even fueled the sales of low fuel economy vehicles in OECD countries. The
Petroleum
International petroleum organization
the world waiting to see if and how the oil inventory glut might be fully siphoned off by then. Longtime oil analyst Daniel Yergin "described the relationship
OPEC
Proven oil reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence
List of countries by proven oil reserves
List_of_countries_by_proven_oil_reserves
Removal of petroleum from the earth
is mostly recovered from oil drilling. Seismic surveys and other methods are used to locate oil reservoirs. Oil rigs and oil platforms are used to drill
Extraction_of_petroleum
Industry in the Arctic
offshore Arctic should high oil and gas prices be sustained and environmental concerns mitigated. Since the onset of the 2010s oil glut in 2014, and, in North
Petroleum exploration in the Arctic
Petroleum_exploration_in_the_Arctic
Financial asset backed by a country's revenues from petroleum exports
including euros. The unconventional tight oil (shale oil) boom in the USA starting in the early 2000s through 2010s (as well as increased production capacity
Petrocurrency
Hydrocarbons from the North Sea
North Sea oil is a mixture of hydrocarbons, comprising liquid petroleum and natural gas, produced from petroleum reservoirs beneath the North Sea. In
North_Sea_oil
Saudi Arabian state-owned petroleum and oil-trade company
officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company, and the national oil company of Saudi Arabia. As
Saudi_Aramco
Largest publicly traded companies
Big Oil is a colloquial grouping of the world's six or seven largest publicly traded and investor-owned oil and gas companies, also known as supermajors
Big_Oil
Decline in oil production
deviates from Hubbert's 1956 curve in significant ways: When oil surpluses created a glut on the market and low prices began causing demand and production
Oil_depletion
Brand of Russian heavy oil
Urals oil is a reference oil brand used as a basis for pricing of the Russian export oil mixture. It is a mix of heavy sour oil of the Urals and the Volga
Urals_oil
companies only involved in refining and marketing. Energy portal List of largest oil and gas companies by revenue List of oilfield service companies
List of oil exploration and production companies
List_of_oil_exploration_and_production_companies
Oil and bitumen deposits in Alberta, Canada
The Athabasca oil sands, also known as the Athabasca tar sands, are large deposits of oil sands rich in bitumen, a heavy and viscous form of petroleum
Athabasca_oil_sands
Canadian petroleum company majority-owned by American ExxonMobil
Imperial Oil Limited (French: Compagnie Pétrolière Impériale Ltée) is a Canadian petroleum company. It is Canada's second-largest integrated oil company
Imperial_Oil
Products ultimately derived from crude oil
Petroleum products are materials derived from crude oil (petroleum) as it is processed in oil refineries. Unlike petrochemicals, which are a collection
Petroleum_product
Oil price pre-1980
posted price of oil was the price at which oil companies offered to purchase oil from oil-producing governments. This price was set by the oil companies and
Posted_oil_price
Organic-rich fine-grained sedimentary rock containing kerogen
Oil shale is an organic-rich fine-grained sedimentary rock containing kerogen (a solid mixture of organic chemical compounds) from which liquid hydrocarbons
Oil_shale
Well drilled to extract crude oil and/or gas
An oil well is a drillhole boring in Earth that is designed to bring petroleum oil hydrocarbons to the surface. Usually some natural gas is released as
Oil_well
OAPEC petroleum embargo
situations. When reduced demand and increased production glutted the world market in the mid-1980s, oil prices plummeted and the cartel lost its unity. Mexico
1973_oil_crisis
Marginal sea of the Atlantic Ocean
2016, oil from subsea infrastructure on Shell's Brutus oil rig released 2,100 barrels of oil. This leak created a 5 to 34 km (3.1 to 21.1 mi) oil slick
Gulf_of_Mexico
the COVID-19 pandemic Russia–Saudi Arabia relations 1973 oil crisis 1980s oil glut 2010s oil glut 2021–2023 global energy crisis Petroleum politics Jacobs
2020 Russia–Saudi Arabia oil price war
2020_Russia–Saudi_Arabia_oil_price_war
service companies may produce, maintain, and repair equipment used in oil extraction and oil transportation. In 2019, the global oilfield services market was
List of oilfield service companies
List_of_oilfield_service_companies
1973 oil crisis 1979 oil crisis 1980s oil glut 1990 oil price shock 2000s energy crisis 2010s oil glut 2020 oil price war List of countries by oil extraction
History of the petroleum industry
History_of_the_petroleum_industry
American multinational oil and gas company
Corporation (/ˌɛksɒn ˈmoʊbəl/ EK-son MOH-bəl) is an American multinational oil and gas corporation headquartered in Spring, Texas, a suburb of Houston.
ExxonMobil
Reference price for trading of an oil commodity
benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West
Benchmark_(crude_oil)
Crude oil with sulfur impurities
Sour crude oil is crude oil containing more than 0.5% sulfur impurities (by weight). The impurities need to be removed before this lower-quality crude
Sour_crude_oil
Indian crude oil and natural gas producer
The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking which is the largest government-owned oil and gas explorer
Oil and Natural Gas Corporation
Oil_and_Natural_Gas_Corporation
Oil and gas field in east Texas
The East Texas Oil Field is a large oil and gas field in east Texas. Covering 140,000 acres (57,000 ha) and parts of five counties, and having 30,340 historic
East_Texas_Oil_Field
British multinational oil and gas company
Shell plc is a British multinational oil and gas company, headquartered in London, England. Shell is a public limited company with a primary listing on
Shell_plc
Borehole in Russia, deepest on Earth
Al Shaheen Oil Field in Qatar. Drilling at Kola SG-3 began on 24 May 1970 using the Uralmash-4E, a serial drilling rig used for drilling oil wells. The
Kola_Superdeep_Borehole
Pumping fluids or gas through pipes
and large oil producers in North Dakota have decided to run an oil pipeline north to Canada to meet up with a Canadian oil pipeline shipping oil from west
Pipeline
American multinational energy corporation
predominantly specializing in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California
Chevron_Corporation
US Republican Party political slogan
drill, drill. Drill we must, but it will take 10 years for one drop of oil to come out of any of the wells that will be drilled." Palin responded, "The
Drill,_baby,_drill
Light crude oil in petroleum-bearing formations
Tight oil (also known as shale oil, shale-hosted oil or light tight oil, abbreviated LTO) is light crude oil contained in unconventional petroleum-bearing
Tight_oil
Subsurface pool of hydrocarbons
A petroleum reservoir or oil and gas reservoir is a subsurface accumulation of hydrocarbons contained in porous or fractured rock formations. Such reservoirs
Petroleum_reservoir
Government ministry of Iraq
Ministry of Oil (Arabic: وزارة النفط) is a central government ministry of Iraq whose task is managing and developing natural resources (oil and gas). The
Ministry_of_Oil_(Iraq)
Oil and gas company of Iran
National Iranian Oil Company (NIOC; Persian: شرکت ملّی نفت ایران, romanized: Sherkat-e Melli-ye Naft-e Irān) is a government-owned national oil and natural
National_Iranian_Oil_Company
Uncontrolled release of crude oil and/or natural gas from a well
A blowout is the uncontrolled release of crude oil and/or natural gas from an oil well or gas well after pressure control systems have failed. Modern wells
Blowout_(well_drilling)
Assembly of flow-regulating valves
valves, casing spools, and fittings used to regulate the flow of pipes in an oil well, gas well, water injection well, water disposal well, gas injection
Christmas_tree_(oil_well)
In the international petroleum industry, crude oil products are traded on various oil bourses based on established chemical profiles, delivery locations
List_of_crude_oil_products
Canadian oil refinery in Saint John, New Brunswick
The Irving Oil Refinery is a Canadian oil refinery located in Saint John, New Brunswick. It is currently the largest oil refinery in Canada, capable of
Irving_Oil_Refinery
Drive for a reciprocating piston pump in an oil well
A pumpjack is the overground drive for a reciprocating piston pump in an oil well. It is used to mechanically lift liquid out of the well if there is
Pumpjack
Type of unconventional oil deposit
Oil sands are a type of unconventional petroleum deposit. They are either loose sands, or partially consolidated sandstone containing a naturally occurring
Oil_sands
French multinational energy and petroleum company
and is one of the seven supermajor oil companies. Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and production
TotalEnergies
Some of the major oilfields of the past and present
This list of oil fields includes some major oil fields of the past and present. The list is incomplete; there are more than 25,000 oil and gas fields
List_of_oil_fields
Type of petroleum company
A national oil company (NOC) is a petroleum company that is fully or partly owned by the government of a sovereign nation. NOCs produce about half the
National_oil_company
Malaysian state-owned oil and gas company
acquisition of oil and gas assets in Azerbaijan from Norwegian oil company, Statoil (now Equinor) for US$2.25 billion. Plagued by the 2010s oil glut, Petronas
Petronas
The history of oil production in California began in the late 19th century. In 1903, California became the leading oil-producing state in the US, and
History of oil in California through 1930
History_of_oil_in_California_through_1930
Former American petroleum company
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed
Marathon_Oil
In response to the Iraqi invasion of Kuwait
The 1990 oil price shock occurred in response to the Iraqi invasion of Kuwait on August 2, 1990, Saddam Hussein's second invasion of a fellow OPEC member
1990_oil_price_shock
Global oil shortage due to geopolitics
the Oil Glut Mirage". New York Times. Vol. Section 3, Page 2, Column 3. C. C. Garvin Jr. (November 9, 1981). "The oil glut in perspective". Oil & Gas
1970s_energy_crisis
industry. In 2004, Iran produced 5.1 percent of the world's total crude oil (3.9 million barrels (620,000 m3; 160 million US gal) per day), which generated
Petroleum_industry_in_Iran
Highly viscous liquid fossil fuel
Heavy crude oil (or extra heavy crude oil) is highly viscous oil that cannot easily flow from production wells under normal reservoir conditions. It is
Heavy_crude_oil
National occurrence of petroleum industry
Oil and Gas dominate the resource sector of the Republic of the Congo (French: République du Congo), also referred to as Congo-Brazzaville, with the petroleum
Petroleum industry in the Republic of the Congo
Petroleum_industry_in_the_Republic_of_the_Congo
Economic measure of US dollar exchange rates
shutdown occurs; West Africa Ebola virus epidemic begins. 2014 90.28 2010s oil glut; Euromaidan crisis in Ukraine; Greek debt crisis reaches its midpoint
U.S._Dollar_Index
Currency of Russia
the annexation of Crimea by the Russian Federation in 2014 and the 2010s oil glut. After the 2022 Russian invasion of Ukraine, it declined further to
Russian_ruble
Extraction and sale of petroleum products
also known as the oil industry, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines)
Petroleum_industry
Mediterranean sea in West Asia
oysters; however, its ecology has been damaged by industrialization and oil spills. The Persian Gulf is in the Persian Gulf Basin, which is of Cenozoic
Persian_Gulf
American oil company
Gulf Oil was a major American global oil company that was in business from 1901 to 1985. The eighth-largest American manufacturing company in 1941 and
Gulf_Oil
Holiest mosque in Mecca, Saudi Arabia
the incident, and remained on hold due to financial issues during the 2010s oil glut. Development was eventually restarted two years later in September 2017
Masjid_al-Haram
Largest oil field in China
The Daqing Oil Field (Chinese: 大庆油田, formerly romanized as Taching) is the largest oil field in the People's Republic of China, located between the Songhua
Daqing_Oil_Field
Method to increase oil production
In the oil industry, waterflooding or water injection is where water is injected into the oil reservoir, to maintain the pressure (also known as voidage
Water injection (oil production)
Water_injection_(oil_production)
Predicting the timing of peak oil involves estimation of future production from existing oil fields as well as future discoveries. The initial production
Predicting the timing of peak oil
Predicting_the_timing_of_peak_oil
Type of hydrocarbon reservoir
& Australia: Blackwell Publishing. pp. i-350. ISBN 978-0-632-03767-4. "Oil Glut, Price Cuts: How Long Will They Last?". U.S. News & World Report. Vol. 89
Unconventional (oil and gas) reservoir
Unconventional_(oil_and_gas)_reservoir
the chances of finding oil off the Norwegian coastline were negligible.[citation needed] In May 1963, Norway declared that any oil found off its coast would
History of the petroleum industry in Norway
History_of_the_petroleum_industry_in_Norway
Oil reserves located in Venezuela
The proven oil reserves in Venezuela are recognized as the largest in the world, totaling 300 billion barrels (4.8×1010 m3) as of 1 January 2014, though
Oil_reserves_in_Venezuela
Last operation for oil and gas wells
circulate out the brine. Oil well – Well drilled to extract crude oil and/or gas Well intervention – Operation on a deteriorating oil well "How Does Well Completion
Completion (oil and gas wells)
Completion_(oil_and_gas_wells)
State-owned oil and gas company in Azerbaijan
The State Oil Company of the Republic of Azerbaijan (Azerbaijani: Azərbaycan Respublikası Dövlət Neft Şirkəti, ARDNŞ), largely known by its abbreviation
SOCAR
Russian oil company
combination of the acronym LUK (initials of the oil-producing cities of Langepas, Uray, Kogalym) and the English word oil. Lukoil is the third largest company in
Lukoil
Oil and gas industry of the US state of California
becomes America's greatest gas gusher. 1919-20: Shortage of oil on West Coast 1921: Oil glut on West Coast sends prices down 1923: California pumps 36%
California oil and gas industry
California_oil_and_gas_industry
Oil reserves located in Russia
There have been widely varying estimates of proven oil reserves in Russia. Most estimates included only Western Siberian reserves, which have been exploited
Oil_reserves_in_Russia
American multinational corporation
is an American multinational corporation and the world's second-largest oil service company, responsible for most of the world's fracking operations
Halliburton
Sector of the oil and gas industry
The oil and gas industry is usually divided into three major sectors: upstream (also called exploration and production or E&P), midstream and downstream
Upstream_(petroleum_industry)
High grade of Nigerian crude oil
Bonny Light oil was found at Oloibiri in the Niger delta region of Nigeria in 1956 for its commercial use. Due to its features of generating high profit
Bonny_Light_oil
State-owned oil and gas company
Oil & Gas Development Company Limited, commonly known as OGDC, is a Pakistani state-owned oil and gas company headquartered in Islamabad. It is listed
Oil_&_Gas_Development_Company
Canadian integrated oil and natural gas company
Cenovus Energy Inc. (pronounced se-nō-vus) is a Canadian integrated oil and natural gas company headquartered in Calgary, Alberta. Its offices are located
Cenovus_Energy
Confiscation of oil production
The nationalization of oil supplies refers to the process of confiscation of oil production operations and their property, generally for the purpose of
Nationalization of oil supplies
Nationalization_of_oil_supplies
Iraqi national oil marketing company
The State Oil Marketing Organisation (SOMO) (Arabic: شركة تسويق النفط) is an Iraqi state-owned company responsible for marketing Iraq's oil. It is headquartered
State Oil Marketing Organisation
State_Oil_Marketing_Organisation
Practice of drilling non-vertical bores
oil wells, or water wells, do not necessarily need to be vertical. This realization was quite slow, and did not really grasp the attention of the oil
Directional_drilling
American energy technology company
with Milchem's mud division to form Milpark. As a result of the 1980s oil glut, in 1987, Baker International merged with Hughes Tool Company in a $728
Baker_Hughes
The oil and gas industry uses many acronyms and abbreviations. This list is meant for indicative purposes only and should not be relied upon for anything
List of abbreviations in oil and gas exploration and production
List_of_abbreviations_in_oil_and_gas_exploration_and_production
Crude oil price index
weighted average of Dubai and Oman (sour) and the Brent Crude (sweet) crude oil prices. It is used as an indicator of the price of crude imports in India
Indian_Basket
UAE state-owned oil company
The Abu Dhabi National Oil Company (Arabic: شركة بترول أبو ظبي الوطنية), known by its acronym ADNOC, is the state-owned oil company of Abu Dhabi, United
Abu Dhabi National Oil Company
Abu_Dhabi_National_Oil_Company
Brand of synthetic polyethylene fiber
protective equipment. They are usually white, commonly worn by mechanics, oil industry workers, painters, insulation installers, and laboratory and cleanroom
Tyvek
Large Alaskan oil field
Prudhoe Bay Oil Field is a large oil field on Alaska's North Slope. It is the largest oil field in North America, covering 213,543 acres (86,418 ha) and
Prudhoe_Bay_Oil_Field
Fracturing bedrock by pressurized liquid
wells may pose a risk – and the science has not kept pace with the growing glut of wastewater". Scientific American. Retrieved 11 October 2014. Rachel Maddow
Fracking
Method of extracting heavy crude oil
crude oil. Used commercially since the 1960s, it is considered an enhanced oil recovery (EOR) method and is the main type of thermal stimulation of oil reservoirs
Steam injection (oil industry)
Steam_injection_(oil_industry)
Petroleum industry global forum
The International Association of Oil & Gas Producers (IOGP) is the petroleum industry's global forum in which members identify and share best practices
International Association of Oil & Gas Producers
International_Association_of_Oil_&_Gas_Producers
Attempt to drill through Earth's crust
Los Angeles for the use of its oil drill ship CUSS I. The name of the drill ship was derived from the consortium of oil companies that had developed it
Project_Mohole
Delta of the river Niger
populated region sometimes called the Oil Rivers because it was once a major producer of palm oil. The area was the British Oil Rivers Protectorate from 1885
Niger_Delta
2010S OIL-GLUT
2010S OIL-GLUT
Boy/Male
Indian
Oil lamp
Boy/Male
Muslim
Oil lamp
Male
Hebrew
(גִּיל-עַד) Hebrew name GIL-AD means "hard, stony region."
Boy/Male
Biblical
Providing well, fatness, oil'.
Male
Spanish
 Portuguese and Spanish form of French Gilles, GIL means "shield of goatskin." Compare with other forms of Gil.
Boy/Male
American, Australian, British, Chinese, Christian, English, French, German, Greek, Hebrew, Irish, Jewish, Portuguese, Spanish
French Form of Julius; Shining Pledge; Short for Names Beginning with Gil; Kid; Young Goat; Serves Christ; Joy; Happiness; Squire Young Shield
Biblical
clearness; oil;
Male
Irish
Irish legend name (Mil Espane "Mil of Spain") of the father of Éibhear Dunn and Éibhear Finn, who conquered Ireland. Possibly derived from the Latin word miles, MIL means "soldier."
Boy/Male
Biblical Muslim
Clearness, oil.
Boy/Male
Biblical
Clearness, oil.
Male
English
Short form of Old English names beginning with Wil-, WIL means "will."
Girl/Female
Arabic, Hawaiian, Hebrew
Oil
Male
Hebrew
(גִּיל) Hebrew name GIL means "joy." Compare with other forms of Gil.
Boy/Male
Arabic
Myrrh; sweet oil.
Biblical
Izehar, oil;bright one, olive oil;
Boy/Male
American, Arabic, Australian, Christian, Greek, Hebrew, Irish, Ukrainian
Myrrh; Fragrant Oil; Fragrant Ointment
Male
English
Short form of English Oliver, probably OLI means "elf army."
Female
Finnish
Finnish form of Russian Olga, OILI means "dedicated to the gods; holy."
Male
French
French form of Latin Franciscus, FRANÇOIS means "French."
Male
English
 Short form of English Gilbert, GIL means "pledge-bright" and other names beginning with Gil-. Compare with other forms of Gil.
2010S OIL-GLUT
2010S OIL-GLUT
Boy/Male
Hindu, Indian, Sanskrit
Illuminating
Girl/Female
Arabic, Muslim
Peace of Eyes; Light of Eyes
Girl/Female
Tamil
Anantika | அநாநà¯à®¤à¯€à®•à®¾
Boy/Male
Hindu, Indian, Marathi, Tamil
Of the Clouds
Male
Danish
, reward of the gods.
Male
Italian
Italian form of Roman Latin Herminius, ERMINIO means "of the earth."
Girl/Female
Tamil
Elethia | à®à®²à¯‡à®¤à®¿à®¯à®¾
Healer
Boy/Male
Gaelic
Horse lord.
Boy/Male
Indian, Punjabi, Sikh
Novel Warrior
Male
Hawaiian
Hawaiian form of English George, KEOKI means "earth-worker, farmer."
2010S OIL-GLUT
2010S OIL-GLUT
2010S OIL-GLUT
2010S OIL-GLUT
2010S OIL-GLUT
n.
Any one of a great variety of unctuous combustible substances, not miscible with water; as, olive oil, whale oil, rock oil, etc. They are of animal, vegetable, or mineral origin and of varied composition, and they are variously used for food, for solvents, for anointing, lubrication, illumination, etc. By extension, any substance of an oily consistency; as, oil of vitriol.
n.
An owl.
superl.
Consisting of oil; containing oil; having the nature or qualities of oil; unctuous; oleaginous; as, oily matter or substance.
n.
An oily substance, C10H16, extracted from oil caraway.
v. t.
To defile; to soil.
n.
A pungent oily substance obtained by redistilling bone oil.
a.
Having the nature or qualities of oil; oily; unctuous.
v. i.
To soil one's self with severe labor; to work with painful effort; to labor; to toil; to drudge.
v. t.
To smear or rub over with oil; to lubricate with oil; to anoint with oil.
n.
Fig.: Entanglement; toil; mesh; perplexity.
n.
Dung; faeces; compost; manure; as, night soil.
n.
A leaf or very thin sheet of metal; as, brass foil; tin foil; gold foil.
superl.
Covered with oil; greasy; hence, resembling oil; as, an oily appearance.