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OPEC Announcements |
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| Oil hits peak as Opec rejects supply appeals |
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| Oil prices charged to a fresh peak yesterday after Opec rejected appeals by the US and other consuming countries for a supply increase at the cartel's meeting in Vienna yesterday. Although the decision was widely expected, oil prices surged as Opec's president signalled that the cartel's next move was likely to be a supply cut with oil demand expected to be lower for the rest of the year. |
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0 Comments - More Info - Bury Topic: OPEC Announcements (Source: ft.com)
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| Oil price could stay as high as $110 a barrel this year, says Opec |
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| The president of Opec has predicted that the price of oil could stay as high as $110 a barrel for the rest of the year, spurred by investors seeking to hedge themselves against the weakening US dollar. Chakib Khelil, the president of the global oil cartel, who is also the Algerian Energy Minister, said: “There are big pressures on Opec and some consuming nations would like to present Opec... |
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0 Comments - More Info - Bury Topic: OPEC Announcements (Source: business.timesonline.co.uk)
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| Oil price edges up on Opec stance |
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| Oil prices have climbed towards $107 a barrel as the rally seen late last week continued. US light, sweet crude rose 59 cents to $106.82 a barrel, having leapt $2.40 on Friday. London Brent crude, meanwhile, gained 33 cents to $105.22.
The rises were helped as producer group Opec reiterated that it saw no need to increase output.
Investors have also been looking to move out of the weak dol |
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0 Comments - More Info - Bury Topic: OPEC Announcements (Source: news.bbc.co.uk)
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| Oil at $129, near record on dollar, OPEC |
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| Oil prices hovered near $129 on Wednesday, within striking distance of the previous session's record high on a weak dollar and as OPEC again said it would not raise supply. The new front-month U.S. light crude contract for July delivery stood at $128.98 by 0537 GMT. The June contract that expired on Tuesday settled up $2.02 in New York, after hitting a new intraday high of $129.60. |
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0 Comments - More Info - Bury Topic: OPEC Announcements (Source: reuters.com)
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| Oil Rises Above $135 on Concern OPEC Is Powerless to Halt Rally |
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| Crude oil rose to a record above $135 a barrel as OPEC ministers said they could do nothing to stop a rally that may be heading to $200 a barrel. Oil has risen 19 percent this month as analysts increased their price forecasts because of supply constraints and demand growth. OPEC has ``no magic solution'' to the surge, Qatar's oil minister said. Oil prices are " out of the hands " |
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0 Comments - More Info - Bury Topic: OPEC Announcements (Source: bloomberg.com)
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| IEF Forum In Rome, Italy - May 2008 |
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| In a video interview with OPEC immediately after the event, the IEF’s Secretary General, Dr Noé van Hulst, described the 11th Forum as the largest gathering of Energy Ministers he could remember in the dialogue, underlining the growing importance of this process, which OPEC has played a major role in establishing and developing over the past decade and a half. |
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0 Comments - More Info - Bury Topic: OPEC Announcements (Source: opec.org)
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