Episode Details

The business news at the moment is dominated by the falling price in oil. We're looking at some of the reasons behind this. So Richard, falling oil prices, what's it all about? Like any commodity, it's all about supply and demand.目前的商业新闻几乎都被油价下跌所主导。我们正在探讨这背后的一些原因。那么，理查德，油价下跌到底是怎么回事？和任何一种大宗商品一样，这归根结底还是供求关系的问题。

So presumably you're saying that demand is going down? Demand is going down because the world economy is slowing, especially China. So therefore there is less demand for oil, so the price goes down. So there's a decrease in demand.所以你的意思是需求在下降？是的，需求在下降，因为全球经济正在放缓，尤其是中国。因此，对石油的需求减少，价格自然就下跌了，也就是说需求出现了下降。

So what about supply then? Well, that's the double whammy. That's why the oil price has gone down so much, because there's been a surge in supply. From OPEC countries? No, from the US.那供给方面呢？这就是“双重打击”了。这也是油价大幅下跌的原因，因为供应量激增。是来自欧佩克国家吗？不，是来自美国。

The US has doubled its production of oil since 2010. How come they've done that? Well, it's all about fracking. Right.自 2010 年以来，美国的石油产量翻了一番。他们为什么能做到这一点？这主要得益于水力压裂技术。对。

They're producing oil from new deposits that they're finding in the US. So that's very successful for them. Successful for them.他们正在从美国本土新发现的油藏中开采石油，这对他们来说非常成功。确实是成功的。

But again, it leads to a lower oil price. So how much are we talking about then for a barrel of oil, Richard? Well, from a high of $110 a barrel in 2014, it's now less than $50 a barrel. OK.但这同样也导致了油价下跌。那么现在一桶油大概多少钱呢，理查德？2014 年的时候最高达到每桶 110 美元，而现在已经跌到每桶 50 美元以下了。好。

So obviously some of the OPEC countries are panicking about this? Yes, but it's affecting them very differently. Some are really suffering. For instance, Nigeria and Russia, they depend on oil.那么显然，一些欧佩克国家对此感到恐慌了？是的，但这对它们的影响各不相同。有些国家确实在承受巨大压力，比如尼日利亚和俄罗斯，它们高度依赖石油。

Right. To keep their economy afloat. They are really suffering.没错。为了维持经济运转。它们确实遭受了严重冲击。

What about Saudi Arabia? Well, they've got so much oil and they've got so much reserves of cash and oil that they're hoping to ride the storm out. And they, again, they're hoping that the low oil price will send the American frackers out of business. So it really is a supply and demand issue.