Just a year or so ago, when brokers and economists were pointing that we might be facing $100.00 oil prices, everyone shook their heads and laughed. Sure oil surged up to hit $100.00 now and then but quickly fell again. With the world in recession, demand falling, consumer spending down, manufacturing collapsing, if supply and
Crude Oil And Speculators Hamper Economic Recovery Read More »
Organization of Petroleum Exporting Countries (OPEC) oil output rose in March to its highest since October 2008 as higher supply from Iraq and further recovery in Libya’s production offset a drop in shipments from Iran. Supply from the 12 members of the OPEC averaged 31.26 million barrels per day (bpd), up from 31.16 million bpd
OPEC March Figures Support Increased Production Read More »
Japan, South Korea and international cargo ship insurers are lobbying ECU officials to revise planned sanctions against Iran to permit Europe’s insurance market to cover Iranian oil cargos. The EU oil embargo due to come into effect in July to stop ECU members from importing Iranian oil would also stop EU insurers and reinsurers from
Oil Embargo Hitting Insurers And Having Effects On Iran Oil Shipments Read More »
Oil Hits A New Sterling Record On Iran Fears..But sshhh..Don’t Tell UK Motorists Feb 20, 2008 at 04:01pm New York: “The price of crude oil has scraped above the $100-a-barrel mark in recent months, but for the first time it actually closed above the psychological ceiling. Prices settled at $100.01 a barrel on the New
Oil Hits A New Sterling Record On Iran Fears Read More »
Before being railroaded and bullied into empty tub thumping rhetoric it might have been worth the European Union mandarins and apparatchiks pulling up an oil supply chart and spotting that cutting off supply from your second largest supplier isn’t the brightest of ideas. Particularly if that biggest supplier has a) pathological habits of over estimating
