Oil prices back up over $70, what about longer term prices?

A lot of oil market analysts and other pundits believe that crude prices will continue rising over the next year or so, as even very small increases in industrial demand ...

Light oil prices ease but stay above $71 Wednesday trading

Oil prices eased in Asian trade Wednesday on profit taking but stayed above $71 a barrel ahead of this week's Group of 20 summit and a US central bank meeting, ...

Brent oil prices rally, trading back above $70

London's Brent North Sea crude oil prices for November climbed $1.67 to $70.36 a barrel, oil prices bounced after the European single currency spiked to a one year high above ...

It’s peak banks we ought to worry about, not oil

There are more than adequate oil reserves that are economic at under $100 per barrel to meet foreseeable requirements, if oil sands and shale oil are included. Maybe it's peak ...

Oil back to $30 or $300 a barrel? What do crude traders see coming?

Oil traders could see crude oil prices plunging soon, as the world economy isn’t rebounding strongly enough to dent a huge supply glut. Bloomberg reports that traders are paying more ...

South Korea plans to buy 2 foreign oil companies this year

South Korea plans to buy two foreign oil companies by the end of this year, Vice Knowledge Economy Minister Kim Young-hak said on Tuesday.The government is currently beefing up exclusive ...

Saudi Arabia does not expect 2010 OPEC cut

OPEC does not need to cut output in 2010, according to the latest oil supply and demand estimates, the oil minister of top exporter Saudi Arabia said on Tuesday. Demand ...

Crude Oil slips on light volumes, Exxon, EnCana, Murphy Oil all retreat

With Japan, Singapore and India closed today due to public holidays, the absence of the majority of Asian oil traders saw crude oil prices drop almost 2½% overnight on relatively ...

Oil prices slide on world demand fears

Oil prices have fallen by almost $3 on fears that energy demand may not have recovered as much as thought. US crude was down $2.78 at $69.26 a barrel before ...

Oil price trading below $72 on easing Asian stocks, Sinopec

Oil prices are currently below $72 a barrel in thin trading on Monday, pressured by easing Asian stocks and comments by Asia's No. 1 refiner Sinopec that diesel demand China ...

Is peak oil expected this year?

Peak oil supply will be hit this year after the economic crisis and low prices in the first quarter of 2009 slashed much needed investment, a senior executive at Australian ...

OPEC raises forecasts on Azerbaijan’s oil production

According to the OPEC forecasts, oil production by the former Soviet Union countries will increase by 0.23 million bpd to 12.79 million bpd in 2009, which is higher by 71,000 ...

50% drop in new orders, trouble for oil and gas contractors

New orders for 16 surveyed key contractors to the oil and gas industry declined 52% in the first half of 2009 relative to the same period in 2008. Whereas some ...

Light oil prices dip in Asian trade on Friday

Light oil prices eased in Asian trade on Friday, hit by profit taking and a weaker market, dealers said, although the losses were limited on upbeat data from the US, ...

Mixed oil news from Russia, Kudrin predicts oil price correction

Crude oil prices may start falling as soon as December as the US government will drain liquidity from the financial market, Russian Finance Minister Alexei Kudrin warned Thursday. The prices ...
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