December 2009
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News from December 2009

Spot trading of crude oil opens in Tianjin, China

Spot trading of crude oil opens in Tianjin, China thumbnail

China has launched its first spot trading system in Tianjin for crude oil and coke, the coal used in steel making. The exchange is part of the effort to transform Tianjin Binhai New Zone into a financial center in northern China.
The newly inaugurated Bohai Commodity Exchange “BOCE” is China’s first joint-stock commodity board. China’s crude [...]


Libya says OPEC needs more compliance with oil targets

Libya says OPEC needs more compliance with oil targets thumbnail

OPEC needs to comply more closely with its oil output targets as the market is oversupplied, the head of Libya’s National Oil Corporation said on Saturday ahead of its meeting to set policy.
The producer group agreed last year to curb supply by 4.2 million barrels per day (bpd) as recession eroded demand. But compliance with [...]









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