This is the repository for the dataset introduced in "CrudeOilNews: An Annotated Crude Oil News Corpus for Event Extraction"
Annotations are done using Brat Rapid Annotation Tool.
Commodity news articles were taken from from notable news agencies below:
- https://www.investing.com/commodities/crude-oil-news
- https://www.reuters.com/news/economy
- https://www.cnbc.com
- https://www.hellenicshippingnews.com/
- https://oilprice.com/Latest-Energy-News/
- https://www.marketwatch.com
- https://www.marketpulse.com
- https://www.fxempire.com/news/
Note Due to copyright issues, only the links to the original news articles are provided (without the actual news text). A corresponding URL link to the original news is given along with their corresponding annotation file. Augmented data, on the other hand, are made fully available (see raw-files/Augmented data/)
Codes for Data processing to convert annotation data (in .ann files) from standoff format to CONLL format are provided.
There are 19 Event Types
-
Geo-political News
- Civil Unrest (Civil-unrest) - Violence or turmoil within the oil producing country
- (S1) ....a fragile recovery in Libyan supply outweighed fighting in Iraq .....
- (S2) ....a backdrop of the worst strife in Iran this decade...
- Embargo (Embargo, Prohibiting) - Trade or other commercial activity of the com-modity is banned.
- (S3) .... and sanctions against Iran.
- (S4) ...prepared to impose “ strong and swift ” economic sanctionson Venezuela.....
- Geo-political Tension (Geo-political-tension) - Political tension between oil-producingnation with other nations.
- (S5) .... heightened tensions between the West and Russia.....
- (S6) ... despite geopolitical war in Iraq , Libya and Ukraine.
- Trade Tension (Trade-tensions) - Trade-related tension between oil-producing andoil-consuming nations
- (S7) .....escalating global trade wars, especially between the US and China.
- (S8) ....showing that OPEC is not ready to end its trade tensions......
- Other forms of Crisis (Crisis)
- (a) A time of intense difficulty, such as other forms of unspecified crisis that do not fallinto any of the above category
- (S9) .... Ukraine declared an end to an oil crisis that has .........
- (b) Financial / Economic Crisis (which can be grouped under Macro-economic News)
- (S10) ....since the 2014/15 financial crisis as .......
- (a) A time of intense difficulty, such as other forms of unspecified crisis that do not fallinto any of the above category
- Civil Unrest (Civil-unrest) - Violence or turmoil within the oil producing country
-
Macro-Economic News
- Strong Economy / GDP growth / US Employment (Grow-strong) - Strong or growing economy / GDP of a nation; applicable to indicate strong status of US EmploymentData
- (S11) as strong U.S. employment data....
- Weak or Contracting Economy / GDP / US Employment (Slow-weak) - Weakening or contracting economy / GDP of a nation; applicable to indicate the weakening of USemployment data.
- (S12) ..... concerns over slowing global growth....
- (S13) U.S. employment data contracts with the euro zone.....
- Bearish technical view or outlook (Negative-sentiment) - Bearish sentiment or outlook
- (S14) But in a market clouded by uncertainties....
- (S15) ....supply concerns would ease even more ......
- Strong Economy / GDP growth / US Employment (Grow-strong) - Strong or growing economy / GDP of a nation; applicable to indicate strong status of US EmploymentData
-
Commodity Supply (includes exports)
- Oversupply (Oversupply) - Situation where production goes into surplus
- (S16) ..... the region surplus of supply.....
- (S17) ...the market is still working off the gluts built up....
- Shortage (Shortage) - Situation where demand is more than supply.
- (S18) ... increase a supply shortage from chaotic Libya....
- (S19) ....and there is no shortfall in supply , the minister added
- Supply increase (Movement-up-gain) - Situation where supply increased
- (S20) ...further increases in U.S. crude production.....
- (S21) The rise in production is definitely benefiting the United States...
- Action taken to increase supply (Cause-Movement-Up-gain) - Deliberate action toincrease supply.
- (S22) The IEA boosted its estimate of production from ExxonMobil to 1.8 millionbpd in July 4 holiday weekend.
- (S23) ...urged the kingdom to ramp up production....
- Supply decrease (Movement-down-loss) - Situation where supply decreased
- (S24) UAE ’s production has almost halved in two years to 31.6 million bpd...
- (S25) ...fears that global supplies will drop due to Washington ’s sanctions on theOPEC member nation.
- Action taken to decrease supply (ause-movement-down-loss) - Deliberate action todecrease supply.
- (S26) .....by slashing production by almost three quarters in the 1980s...
- (S27) ....an announcement by Iran that it would cut its production last week.
- Oversupply (Oversupply) - Situation where production goes into surplus
-
Commodity Demand (includes imports)
- Demand increase (Movement-up-gain) - Situation where demand increased
- (S28) It expects consumption to trend upward by 1.05 million bpd , below 40,000bpd from July.
- (S29) ...as more seasonal demand kicks in due to colder weather.
- Action taken to increase demand (Caused-movement-up-gain) - Deliberate actiontaken to increase demand.
- (S30) IEA tried to boost global oil demand by introducing......
- Demand decrease (Movement-down-loss) - Situation where demand decreased
- (S31) ...onto a market reeling from falling demand because of the virus outbreak.
- (S32) ...when global demand growth for air conditioning collapses from its summerpeak....
- Action taken to decrease demand (Caused-movement-down-loss) - Deliberate actiontaken to decrease demand
- (S33) The pandemic has zapped demand to a level never seen before..
- Demand increase (Movement-up-gain) - Situation where demand increased
-
Commodity Price Movement Commodity price here includes spot price,futures and futures contract
- Price increase (Movement-up-gain) Situation where commodity price rises
- (S34) Oil price rose $105 a barrel on March....
- (S35) ..oil prices have jumped as much as 20 percent since June.
- Price decrease (Movement-down-loss) - Situation where commodity price drops
- (S36) The drop in oil prices to their lowest in two years.....
- (S37) Oil prices declined back the final quarter of 1991 to 87 cents...
- Price movement flat (Movement-flat) - Situation where no or little change to commod-ity price
- (S38) Contango spread in Brent is steady at 15 cents per barrel....
- (S39) U.S. crude is expected toholdaround $105 per barrel.
- Price position (Position-high, Position-low) - Describes the position of the currentcommodity price
- (S40) Oil price remained close to four-year highs...
- (S41) Oil slipped more than 20% to its lowest level in two years on 1980s....
- Price increase (Movement-up-gain) Situation where commodity price rises
-
Change in Forecasted value
- Increase forecast target (Caused-movement-up-gain) - Forecasted / target is raised,possible values are price target, growth target, demand and supply target
- (S42) The IMF earlier said it increased its 2019 global economic growth forecast to 3.30%.
- (S43) The International Monetary Fund doubled its global growth forecast for 2013.....
- Price target /forecast decrease (Caused-movement-down-loss) - Forecasted / targetis lowered, possible values are commodity price target, growth target, demand and sup-ply target
- (S44) Germany’s Bundesbank this week halved its 2015 growth forecasts for Europe’s largest economy to 1 percent.
- (S45) OPEC also lowered forecast global demand for its crude oil..
- Increase forecast target (Caused-movement-up-gain) - Forecasted / target is raised,possible values are price target, growth target, demand and supply target
To use this dataset is made available for academic research purposes only, please cite this publication:
@misc{lee2021annotated,
title={An Annotated Commodity News Corpus for Event Extraction},
author={Meisin Lee and Lay-Ki Soon and Eu-Gene Siew and Ly Fie Sugianto},
year={2021},
eprint={2105.08214},
archivePrefix={arXiv},
primaryClass={cs.CL}
}