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News from November 2009

Oil trading around $78, speculators eye US dollar, oil demand

Oil prices are trading around the $78 a barrel mark on Tuesday in Asia amid mixed signs about the global economy and crude oil demand.
Benchmark Light crude oil futures for January delivery was up 16 cents to $77.72 a barrel at midday Singapore time in electronic trading on the NYMEX, while in London, Brent crude [...]

IEA says rising oil price would hurt economic recovery

Crude oil prices would threaten a rebound in the global economy if they rise beyond current levels, the chief economist of the IEA said on Monday. “We would like to see oil prices not to go higher than these levels as it is a certain risk to economic recovery,” Fatih Birol said
Oil prices have more [...]

OPEC sees additional 20 million barrels of daily oil demand

OPEC’s president Jose Botelho de Vasconcelos said on Monday the group sees global oil demand growing to 106 million barrels per day in the period from last year to 2030, up 20 million barrels.
“The latest projection in OPEC reference case…sees world oil demand rising by 20 million barrels per day to 106 million barrels per [...]