Tag Archives: OPEC
OPEC Planning Further Production Cuts?
Posted on27. Apr, 2009 by admin.
After failing to breach the resistance level of $52 a barrel last week, the price of Crude Oil appears to be coming back down. Recent press releases from the various oil ministers in member countries of the Organization of Petroleum Exporting Countries (OPEC) have stated that the latest price volatility has been damaging to the [...]
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Crude Oil Rises Above $42.50 a Barrel
Posted on26. Feb, 2009 by admin.
Crude Oil climbed 6% to above $42 a barrel on Wednesday, after a U.S. government report showed a sharp drop in gasoline inventories in the world’s top energy consumer. The U.S. Energy Information Administration (EIA) reported a 1.7% rise in demand for fuel over the four weeks prior to February 20th. Further support for Oil [...]
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OPEC Producers asked to Lower Crude Oil Output
Posted on25. Feb, 2009 by admin.
Crude Oil prices rose again yesterday as the U.S. stock market advanced, signaling that fuel usage in the world’s biggest energy-consuming country may rebound. Moreover, the Organization of Petroleum Exporting Countries (OPEC) may begin to cut output by 3.8% a day in February in order to stabilize prices.
However, traders should be eyeing news of key [...]
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Stock Markets Trends Dictate Crude Oil Prices
Posted on23. Feb, 2009 by admin.
Crude Oil is continuing to trade around $40 a barrel. It appears that investors have correlated their investment on Crude Oil with the leading global stock markets. As long as the leading economies will continue to deliver worrying news that will damage equity markets, Crude Oil will probably retain its low price level.
In addition, Oil [...]
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OPEC to Discuss Production Cuts; Oil Demand Falling
Posted on18. Feb, 2009 by admin.
The Organization of the Petroleum Exporting Countries (OPEC) is looking to reduce oil supply further if demand is insufficient to absorb supplies, oil ministers said on Tuesday. OPEC, supplier of more than a third of the world’s oil, has raced to cut supply to match falling demand from a slowing global economy. OPEC next meets [...]
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Crude Oil Declines on U.S. Fuel Inventory Gain
Posted on05. Feb, 2009 by admin.
Crude Oil prices settled near $40 a barrel on Wednesday, down slightly after the U.S. stock market fell and a government report showed U.S. oil inventories jumped more than twice the amount previously forecast. Fuel demand during the past four weeks averaged 19.5 million barrels a day, down 2.8% from a year earlier, the Department [...]
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Crude Oil Declines on Demand Concerns
Posted on27. Jan, 2009 by admin.
The price of a barrel of Crude Oil fell around half a Dollar, or 1.5%, yesterday as the Organization of Petroleum Exporting Countries (OPEC) fears that their production cut may not be adequate enough to support prices. The International Energy Agency (IEA) backed these claims, stating that demand for Oil will decline for a 2nd [...]
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Weakened Global Energy Demand Returns Crude Oil to Previous Downtrend
Posted on12. Jan, 2009 by admin.
The sudden increase in the price of Crude Oil during the first days of the conflict in Gaza was more of a result of investor worries and speculation. Now, as commodity traders come to realize that the conflict between Hamas and Israel has very little influence over the production or shipping of oil, they start [...]
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Oil Prices Resume Sliding despite U.S Crude Inventories Report
Posted on08. Jan, 2009 by admin.
Oil prices slid 12% during yesterday’s trading session, the largest percentage drop in 7 years. This drop came after a U.S. government report showed Crude Oil inventories rose more than expected in the world’s top energy consumer.
Two days ago, Crude Oil reached a five-week high because of the conflict between Israel and Hamas, Russia’s gas [...]
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Middle East Violence Sparks a Rise in Crude Prices
Posted on30. Dec, 2008 by admin.
A rally in Crude Oil was seen yesterday as continuing violence in the Middle East sparked a price jump. The price reached above $42 at one point, settling at $39.60 for the day. Analysts are concerned that an increase of violence in the region could disrupt Oil supplies, driving Crude prices higher.
The price appears to [...]
