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oil prices, oil trading
WTI oil futures are trading flat on Monday and may well test the $70 mark again in the short term at least, as uncertain markets and grim oil demand weigh on the price of crude.
US Light crude oil futures for September 2010 delivery was at $73.76 a barrel, 08.15 GMT on the NYMEX, after initially [...]
OPEC forecasts that the US will remain a “wild card” in 2011 as far as oil demand is concerned, noting that any further delay in the country’s economic recovery will of course lead to a downward revision in total world oil demand.
OPEC’s latest world oil demand growth estimate which was released last Friday predicts that [...]
Crude oil prices oil may fall next week amid recent increases in US oil supplies and rising oil output from OPEC member countries could all point the way to lower prices.
In a recent survey by Bloomberg, 15 of 36 analysts, or 42 percent, forecast that oil prices will decline through August 6th, with 12 respondents, [...]
Oil prices may see a lift this week as the EU hit Iran with new and tough sanctions against its vital oil industry today in a bid to lure Iran back to the negotiating table over its disputed nuclear program.
EU foreign ministers will formally approve the sanctions on today following Iran’s repeated refusals to halt [...]
An Iranian government official voiced his intentions to reject both US dollar and euro as payment for the oil giant’s energy exports in the future. Iran has the world’s second largest gas reserves and third largest oil reserves.
According to the Iranian television channel “Press TV”, vice-president Mohammad Reza Rahimi said: “It is important to exclude [...]
In it’s latest report OPEC member countries forecast an 1.2% increase in global oil demand in 2011 with demand for its own crude oil to rise for the first time since 2007.
OPEC said that and in 2011, growth would pick up only fractionally to 1.2% or an additional 1.0 million barrel ber day reflecting continued [...]
The latest 2010 OPEC member oil figures for crude oil production and general oil output from OPEC member countries fell in June 2010 because of lower supplies from Iraq, Angola and Nigeria.
Meanwhile, OPEC officials moved to defend current oil prices. “Current prices are comfortable,” Abdalla El-Badri, the Secretary General of OPEC told reporters ahead of [...]
The weekly average crude oil price from OPEC rebounded back over $70 per barrel to $71.79 last week, the first time for the OPEC weekly average oil price to pick up following a consecutive price decline in four weeks.
OPEC member countries weekly average oil price hit its record high this year of $83.36 in the [...]
If crude oil prices drop to $65 a barrel then some OPEC member countries may consider the price is too cheap, Kuwait’s oil minister said, declining to comment on any action that the group might take to support prices.
“This will draw our attention,” Sheikh Ahmad al-Sabah told reporters today at parliament in Kuwait City. At [...]
OPEC member countries would need to pump more oil to prevent a rally in oil prices above $100 from hurting the global economic recovery, said Kuwait’s oil minister on Sunday.
Oil is well below the $100 a barrel mark, settling at just over $85 a barrel on Friday. For a month, oil has traded over the [...]
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