UPDATE 1-OPEC meets only half July oil output curbs -survey
Thursday, July 29th, 2010UPDATE 1-OPEC meets only half July oil output curbs -survey
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UPDATE 1-OPEC meets only half July oil output curbs -survey
Hugo Chavez is threatening to cut oil supplies to America. Here’s what you need to know. read more
A threat by Venezuelan President Hugo Chavez to suspend oil exports to the United States, amid a dispute with Venezuela’s neighbor and US ally Colombia, would be “economic suicide,” analysts say.
According to the statement issued by ADNOC ADNOC , the cargoes of Murban and Lower Zakum will be cut by 20%, while the allocations of Umm Shaif and Upper Zakum will be reduced by 10% in September.
Barclays Capital oil analysts believe that $80 or above oil prices are befitting as reverberations following the BP oil spill in the U.S. Gulf of Mexico continue to be felt, Barclays said it a report released earlier this month.
One of the world’s most important fertilizers is in short supply. That fertilizer is potash. One of the first things people change as they emerge from poverty is their diet. They move toward more meat and a greater variety of fruits and vegetables. But the web of food production shivers and shakes in the short term in response to economic pressures.
LONDON: The oil market will stay well supplied and an overhang of stocks will be more than sufficient to meet any extra demand next year, the Organization of the Petroleum Exporting Countries (OPEC) said Thursday. OPEC cut its estimate of demand for its own crude oil this year, saying supply from countries outside the producer group will rise more than expected and it forecast
The oil market will stay well supplied and an overhang of stocks will be more than sufficient to meet any extra demand next year, OPEC said today, suggesting there was no need for more OPEC production for some time.
Report says inventories will more than adequately cover any additional needs. 15 Jul 2010 9:20 PM
The following is a selection of the most important news affecting the oil market.