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Global Oil Consumption


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oiled
Oil price poses threat to Jordan's stability
The sharp rise in oil prices over the past year has provided a massive economic boost for many Arab states. In Jordan, however, it has forced the government into a delicate balancing act in order to preserve political and fiscal stability. Unlike most of its neighbours, Jordan does not sit on vast oil and gas riches.
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: ft.com)
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Fears emerge over Russias oil output
Russian oil production has peaked and may never return to current levels, one of the country’s top energy executives has warned, fuelling concerns that the world’s biggest oil producers cannot keep up with rampant Asian demand. The warning helped on Tuesday to push crude oil prices to a fresh all-time high above $1112 a barrel, threatening to stoke inflation in many countries.
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: ft.com)
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King Oil will turf out Gordon Brown
The oil price has doubled in the last year; some oil traders are already betting that it will eventually reach $200 a barrel. As oil is involved in almost every economic activity, the price rise that has occurred already is the greatest shock to hit the world economy for 30 years. Obviously this changes the economic relationship of the oil-producing countries with the oil-consuming nations.
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: timesonline.co.uk)
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Oil, food prices may further dampen growth: IMF
The International Monetary Fund said on Thursday it is sticking to world economic forecasts for now, but cautioned that much higher global prices for oil and food could dampen growth. "Despite increasing oil prices, the broad contours of the fund's assessment of the global outlook remain unchanged at this stage," IMF spokesman David Hawley told reporters.
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: reuters.com)
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UAE ready to boost oil output when needed
OPEC member the United Arab Emirates is ready to boost oil output if necessary, UAE Oil Minister Mohammed al-Hamli said on Sunday. The UAE is one of the few members of the Organization of the Petroleum Exporting Countries (OPEC) capable of increasing its output. Under pressure from consumers to act to tame record oil prices, OPEC's top producer Saudi Arabia announced a modest increase of 300
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: reuters.com)
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US has few options as oil nations tighten grip
The United States, the world's biggest oil consumer stands mostly powerless as national oil companies like Venezuela's PDVSA and Russia's Gazprom block access to key oil reserves and demand a larger share of the profits in exchange for allowing international oil companies to drill.
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: reuters.com)
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Scramble for oil as price continues to rise
There is no doubt that global oil production - at about 87 million barrels a day is sputtering. The real question is: why? Is it, as advocates of the “peak oil theory” claim, because there is simply not enough oil left in the ground? Or is it because of other reasons, such as a lack of investment in new fields? It is a fact that some of the world's biggest oil areas are being depleted rapidly.
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: business.timesonline.co.uk)
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IEA trims world oil demand, cuts supply forecast
World oil demand will rise at its slowest pace in six years during 2008 as a raft of fuel subsidy cuts in Asia erodes consumption, the International Energy Agency said on Tuesday. n its monthly Oil Market Report, the IEA said global oil demand will rise by 800,000 barrels per day (bpd) this year, 230,000 bpd less than its previous forecast.
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: reuters.com)
1
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Venezuela says no evidence oil price hurting demand
Oil price hawk and major exporter Venezuela said on Friday there is no evidence record crude values are hurting demand despite economists' predictions the cost could dent demand and trigger a sharp price fall. Venezuela's oil minister also reiterated the OPEC member's position that oil markets are well supplied and any decision on changing output levels should be taken at OPEC meetings.
 

0 Comments - More Info - Bury   Topic: Global Oil Consumption (Source: reuters.com)


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