Demand for more oil ‘does not exist’ http://www.ameinfo.com/news/Energy__Oil_and_Gas/ Opec President Chakib Khelil said oil producers cannot raise output without demand for extra oil supply, and at the present time that demand does not exist, reported Reuters. He said supply and demand was balanced and prices would remain high until the end of the year due […]
High oil prices here to stay – Dana chief http://archive.gulfnews.com/articles/08/06/20/10222394.html 06/20/2008 12:08 AM | By Gaurav Ghose, Financial Features Editor Dubai: Unlike the mid-1980s, when oil prices fell from $40 a barrel to $15, the prevailing high energy prices are here to stay, said a top official of the region’s largest private […]
The New World Order of Oil Users and Suppliers Gal Luft June 16th 2008 www.cuttingedge.com Cutting Edge Energy and Security Desk Yanbo Petroleum Complex in Saudi Arabia As nations become increasingly dependent on oil, it becomes strategically imperative for them to secure their access to the Middle East. This means building strong alliances […]
AP Oil hits record near $140 a barrel on dollar, fire Monday June 16, 12:36 pm ET By John Wilen, AP Business Writer Oil futures shoot to a record near $140 a barrel on falling dollar, North Sea fire NEW YORK (AP) — Crude oil futures hit a record near $140 a barrel […]
S. Arabia plans to increase oil output Sat, 14 Jun 2008 08:21:37 Saudi Arabia plans to increase its oil production to nearly 10 million barrels a day (bpd) from the current level of 9.45 million bpd. The Middle East Economic Survey reported on Friday that Saudi Arabia, the world’s biggest oil exporter, plans to increase […]
Reuters Published: June 13, 2008, 21:41 London: Oil fell $3 to near $134 a barrel on Friday on an industry newsletter report Saudi Arabia was considering a sizeable increase in crude output to cool oil prices. The Middle East Economic Survey (MEES) reported yesterday that Saudi Arabia, the world’s biggest oil exporter, was considering […]
Oil & Gas Gulf News archive “Supply is more than enough, there won’t be a change,” Opec President Chakib Khelil said. Bloomberg Published: June 12, 2008, 17:03 Algiers: Opec President Chakib Khelil said the oil-producer group won’t raise output at a summit with consuming nations in Saudi Arabia later this month. “Supply is […]
http://tinyurl.com/5dykol Oil’s Mid-Week Dance Carl Gutierrez, 06.11.08, 12:00 PM ET The energy roller-coaster keeps turning. Only days after saying oil would trade at $70 without speculation (See: “Oil’s Indecision”), and dollar weakness adds $40 to prices, OPEC president Chakib Khelil now […]
Efforts by Saudis, boost in dollar unable to help http://www.azcentra l.com/news/ articles/ 2008/06/10/ 20080610oilprice s0610.html ource=nletter- news#comments> Jun. 10, 2008 12:00 AM Associated Press NEW YORK – Oil prices dropped Monday on a stronger dollar and a call from Saudi Arabia for a meeting to talk about prices it called unjustifiably high, but gas […]
Oil supply adequate, no calls for OPEC meet. 2008-06-08 Global oil supplies are adequate and there are no moves within OPEC to hold an emergency meeting to discuss record oil prices, Libya’s top oil official said on Sunday.”I think there is enough oil in the market, I did not hear anybody calling for a […]
Jun 09 Oil prices ease, but analysts warn of $150 a barrel – UPDATE 2 Posted by Vu Hung World oil prices eased on Monday after an unprecedented surge that prompted consumer nations to urge a production increase and warn of a global recession if the price hits $150 a barrel . New York’s main […]
http://abcnews.go.com/Blotter/story?id=4996285=1 <http://abcnews.go.com/Blotter/story?id=4996285&page=1>Indicted Saudi Gets $80 Million US Contract The Financier Has Been Indicted For His Alleged Role in a Scandal Costing US Taxpayers $1.7 billion By GRETCHEN PETERS June 4, 2008— The US military has awarded an $80 million contract to a prominent Saudi financier who has been indicted by the US Justice Department. The […]
Dependence On Middle East Energy And Its Impact On Global Security Gal Luft June 2nd 2008 Cutting Edge Contributor “We do have to do something about the energy problem. I can tell you that nothing has really taken me aback more, as Secretary of State, than the way that the politics […]
David Smith and Dominic O’Connell THE surge in oil prices to a record level of more than $139 a barrel on Friday has left the economy facing a severe “stagflationary” shock, economists say, with a rising risk of recession alongside high inflation. A record, two-day surge in oil prices of $16 a barrel […]
Oil rises above $128 after record surge on weak dollar Fri 6 Jun 2008, 4:52 GMTup , up, and up (Updates prices, adds IEA report on carbon emissions, oil demand) By Maryelle Demongeot SINGAPORE, June 6 (Reuters) – Oil rose above $128 on Friday, extending gains after its biggest ever one-day rise in the previous […]
Reuters Published: June 04, 2008, 15:51 London: Oil on Wednesday fell below $124 a barrel to its lowest level in nearly three weeks after a fuel price rise in India, which is expected to curb demand. Wednesday’s losses added to a more than $3 slide on Tuesday when the US Federal Reserve warned […]
Agence France-Presse – 30 May, 2008 www.gulfinthemedia.com/index.php?id=405887&news_type=Economy&lang=en Iraq is to review a 2006 agreement to sell discounted oil to Jordan amid soaring world prices, visiting Vice President Tareq al-Hashemi said on Thursday. “The Iraqi government seeks to reconsider the agreement with Jordan and then activate it and push it in the right direction to […]
By Desmond Lachman http://www.american.com/archive/2008/may-05-08/will-oil-really-hit-200-a-barrel Friday, May 30, 2008 Filed under: Economic Policy, World Watch Oil prices cannot keep rising forever, despite what many of today’s market participants seem to think. Rudi Dornbusch, the renowned economist, once said that he did not understand how Mexico’s central bank board members could make the same mistakes time after […]
By THOMAS HOGUE, AP Posted: 2008-05-30 01:42:03 BANGKOK, Thailand (AP) – Oil prices fell to near $126 a barrel Friday in Asia, extending a decline of more than $4 in the previous session despite a huge unexpected drop in U.S. crude oil stocks. The U.S. Energy Department’s Energy Information Administration said delays in unloading oil […]
Middle East: Wednesday, May 28 – 2008 at 15:22http://www.ameinfo.com/158492.html Indonesia, the only OPEC member in South East Asia will leave the organisation today. The announcement comes as the country’s annual output stands at 49% of its 1970s peak and industrial disputes have slowed new developments. The country now imports close to 30% of its domestic […]
http://www.gulfnews.com/business/Oil_and_Gas/10215402.html Diesel set to cost more in Dubai By Himendra Mohan Kumar, Staff Reporter Published: May 23, 2008, 00:19 Abu Dhabi: The price of diesel in Dubai is set to rise again in line with surging international crude prices that are currently trading at lifetime highs past the $135 mark per barrel. Oil industry […]
http://memrieconomicblog.org/bin/content.cgi?news=2317 The US House of Representatives approved legislation allowing the Justice Department to sue OPEC members for limiting oil supplies and working in order to set crude prices, but the White House threatened to veto it. The legislation would subject OPEC oil producers, such as Saudi Arabia, Iran and Venezuela, to the same antitrust laws […]
http://terrorfinance.typepad.com/the_terror_finance_blog/ The Saudi Spell By Rachel Ehrenfeld As if Saudis flying civilian airplanes into buildings in New York and Washington, DC, were not enough, the Bush Administration is now supporting the development of “ civilian nuclear power” in Saudi Arabia. In a feeble attempt to deflect criticism, the Administration published its agreement […]
In May 2008 the price of oil reached an unprecedented $125 a barrel, Oil has continued to hit record levels since January 2008 as the price of Oil passed the $100 mark when a single trader in search of market fame pushed through a small trade. It has risen by 25% in the last […]
The Case For $80 A Barrel Oil
The Case For $80 A Barrel Oil Daniel Fisher, 05.09.08, 2:37 PM http://www.forbes.com/business/2008/05/09/oil-saudi-arabia-biz-energy-cz_df_0509oil.html Oil prices may hang above $100 a barrel for the rest of this year but will fall as low as $80 next year as world demand slackens and Saudi Arabia tries to buy influence with the incoming president by […]
Crude hits record high on Iran’s output review news Reuters Published: May 14, 2008, 00:41 New York : Oil surged to a record peak near $127 on Tuesday after Iran said it was studying a plan to cut output despite signs that record high prices are hurting consumer nations. US crude jumped $1.77 to […]
Shell pulls out of Iran gas agreement Reuters – 11 May, 2008 www.gulfinthemedia.com/index.php?id=401232&news_type=Economy&lang=en Oil major Royal Dutch Shell has pulled out of a planned gas project in Iran, after coming under pressure not to participate from US lawmakers who were concerned about Iran’s nuclear programme. A spokeswoman said yesterday that the world’s second-largest non […]
Agencies Published: May 09, 2008, 18:10 New York: US crude futures jumped more than $2 to a record high above $126 on Friday, fueled by fund buying and surging distillate prices on both sides of the Atlantic, according to traders. The prices surged on the eve of the US driving season as a weakening […]
http://archive.gulfnews.com/articles/08/05/09/10211752.html 05/09/2008 12:44 AM | Reuters London: Oil’s surge to record highs has coincided with the dollar’s fall to record lows against the single European currency – but US foes keen to end the reign of the petrodollar still face a long wait. The rise in crude prices has been spurred in part by […]
Saudi’s rich with cash, buying SUKUK
UPDATE 1-Saudi SABIC gives price guidance on Islamic bonds Wed May 7, 2008 2:14pm IST http://in.reuters.com/articlePrint?articleId=INL078075020080507 MANAMA, May 7 (Reuters) – Saudi Basic Industries Corp 2010.SE (SABIC) gave price guidance for an Islamic bond sale to raise up to $1.33 billion, as it seeks to tap investor appetite for bonds denominated in riyals, an […]
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