This page has been archived and is no longer updated. Find out more about page archiving.
Search BBC
BBC World Service
BBC BBC News BBC Sport BBC Weather BBC World Service Worldservice languages
spacer gif
You are in: Home page > News English > Words in the News
Learning English
spacer gif
 Words in the News
  High oil prices caused problems in many countries.The oil producing nations considered increasing production to try and bring the price down. BBC Economics Correspondent Andrew Walker reported.
Oil prices

6th July 2000

Oil production

 AudioListen to the first part of the report

Twice already this year, Saudi Arabia has decided to pump more oil. The previous occasion was a collective OPEC decision taken less than two weeks ago, when oil ministers gathered at the organisation’s headquarters in Vienna. OPEC’s Secretary General Rilwanu Lukman said at the time, that deal was intended to bring prices down. In fact, the price of the main benchmark types of crude oil has risen since then. The organisation is concerned that too high a price sustained for too long would encourage consumers to switch to other energy sources. A high price also makes it more economic for users to invest in energy conservation.


OPEC: acronym standing for Organisation of Petroleum Exporting Countries

a collective .. decision: a decision which is made and shared by all members of a group is a collective decision

gathered: when people gather, they come together and meet in a group

benchmark: an accepted standard against which other things are measured or compared is known as a benchmark

crude oil: oil in its natural state, before it has been processed, is called crude oil

sustained: if something is sustained then it is continued and not ended

conservation: if you save something, you conserve it: the noun is conservation

NEWS 2  AudioListen to the second part of the report
   OPEC’s immediate problem is that most of its members are already producing at close to full capacity. The main exception is Saudi Arabia which has ample to spare. Saudi officials say that much of it could be put into action within a few days. Oil prices have become an important political issue in the United States ahead of the Presidential election later this year. Motorists have been protesting about the cost of filling their cars.

capacity: the capacity of something is the amount or number of something that it can hold or produce

exception: if something is an exception, it is different from the others, or is not included with them

ample: if you have ample of something, you have more than enough

put into action: when you put something into action you start or begin it.

protesting: if you protest about or against something you say in public that you do not approve of it.

Read about the background in BBC News Online

BBC copyright
Learning English | News English | Business English | Watch and Listen
Grammar and Vocabulary | Communicate | Quizzes | For teachers
Downloads | FAQ | Contact us