黑天鵝事件導致停產
Wild swings in an oil futures contract during the week ending on April 25 sounded the alarm over dwindling capacity to store newly produced oil.
石油期貨合約在4月25日為止的一週劇烈波動，發出危險信號，警示新產出石油的儲存能力下降。
swing(n.)(v.)搖擺;搖晃futures期貨sound the alarm拉警報;發出危險信號dwindle(v.)逐漸減少、減小
As the coronavirus outbreak continues to suppress global demand, the world is awash with oil and on the brink of running out of room to store it. This sent the price of the May contract for West Texas Intermediate futures plummeting into negative territory for the first time on April 20. With the futures contract for May expiring on April 21, investors were unwilling or unable to take delivery of the physical commodity, and they were forced to pay to get oil taken off their hands.
隨著新冠肺炎疫情爆發繼續壓縮全球需求，全球油滿為患，快要沒有儲存石油的空間，這使得西德州中級原油5月份期貨合約價格4月20日首次跌至負值，原因是5月份的期貨合約4月21日到期，投資人不願或無法提取實體商品，因此不得不付錢將手中的石油脫手。
suppress(v.)抑制、壓抑be awash with 充滿;充斥awash(adj.)被水淹沒的;氾濫的on the brink of = on the edge of 在…邊緣;瀕臨on the brink of bankruptcy公司瀕臨破產plunge into negative territory 重挫到負值expire(v.)到期;期滿take delivery of 取貨physical commodity 實體商品;意思是石油
Steward Glickman, CFRA energy equity analyst, said that the situation will drive the oil industry to accelerate production shutdown. Consequently, there will be fewer companies left standing after a wave of consolidation and bankruptcies hits the industry.
CFRA能源股票分析師Steward Glickman表示，這種情況將迫使石油業加速停產，因此在一波合併和破產後，倖存下來的公司就更少了。
drive=force(v.)迫使;驅使production shutdown停產be left standing矗立;聳立;屹立不搖consolidation(n.)企業合併bankruptcy(n.)破產bankrupt(adj.)破產的(go bankrupt)
“That does speak to concerns over storage. The solution to this is if you are a producer who can’t find storage above ground, the next best choice is to find storage below ground...Just shut it down,” he said.
他說：「這確實觸及存儲的疑慮。解決問題的辦法是，如果你是生產商，無法在地面上找到存儲的地方，退而求其次的選擇是存儲在地底下⋯⋯乾脆停產。」
Refiners have pared back fuel production by 25% or more in response to falling demand and they could have to pull back even more. Producers now come under extreme pressure to reduce their output, and the sector is already announcing plans to cut capital spending.
煉油商已經減少燃料產量25％以上，以因應需求下滑，他們可能不得不進一步減產。生產商目前受到極大減產壓力，這個產業已宣佈減少資本支出的計畫。
pare back=cut back減少pull back退卻;撤回;減少sector=industry 行業;產業capital spending 資本支出;房屋、機器設備的購置費
“We continue to believe energy is in the midst of a generational transition as supply and demand adjust to the black swan event,” wrote Bank of America analysts.
美國銀行分析師寫道：「隨著供給與需求適應黑天鵝事件，我們還是相信能源處於世代的轉變中。」
in the midst of正當…的時候;在…之中transition(n.)轉變;過渡時期adjust to適應;習慣