Trends
Oil Markets: What motivates Opec
1 January 2009
Falling oil prices have put Opec into crisis mode and prompted another cut in quotas last month. Derek Brower looks at what its members need from the market.
North America: US Senate rejects automaker bailout
1 January 2009
GM and Chrysler, two of the US' biggest car makers, could be bankrupt by the time you read this, writes Derek Brower.
Oil prices rise to $45/b as Opec gathers in Algeria
16 December 2008
Oil prices firmed on Tuesday in anticipation of another cut in Opec's oil production. With cartel officials gathering in Oran, Algeria, for tomorrow's summit, Brent futures for January delivery were up by $0.94 a barrel at $45.54/b at midday. The January WTI contract was $0.88/b higher at $45.39/b.
Inching towards Copenhagen
16 December 2008
THE UN claims it remains on course to reach a new international agreement on climate change by December 2009, following last month's meeting in Poznañ, Poland. In a separate meeting last month, European leaders confirmed the EU's goals of cutting greenhouse-gas emissions by 20% below 1990 levels by 2020 and deriving 20% of its energy from renewables by the same date.
The capital spending conundrum
16 December 2008
Oil companies are cutting back their capex plans, but they need to be ready to respond to any upturn in demand, writes Ian Lewis
Oil futures battle above $40/b
9 December 2008
The Brent contract for January delivery was firm this morning in London, trading at around $43.70/b, reflecting a hint optimism about the world economy that prompted a surge in global commodity and equity markets on Monday. Opec's assertion that it would cut production at its meeting in Oran, Algeria, next week also injected some strength into oil prices, which had fallen to four-year lows beneath $40/b last week.
Oil market gaze turns to China
9 December 2008
Rising oil demand from China was one force behind the bull-run in energy markets of the last few years. Can the market rely on the country's economy to rescue prices? Derek Brower reports
The source of the recession: oil
9 December 2008
SHADY financiers, dodgy lenders, poor borrowers, the Fed, George Bush, short traders, bad regulation, panic. Now there's another culprit to blame for the global recession: the oil price.
Oil falls below $50/b as US economy hits buffers
2 December 2008
Crude oil futures have broken below $50/b, following the release of yet more poor economic data from the world's large economies. This morning in London, the Ice front-month contract traded as low as $46/b before buying firmed prices above $47/b. But further losses are likely, say analysts.
Obama set to reinvigorate climate-change talks
2 December 2008
Under Barack Obama, the US will introduce its own cap-and-trade greenhouse-gas emissions scheme and take centre stage in international climate talks, writes Tom Nicholls
Environment: Carbon measures slow to emerge
2 December 2008
INVESTMENT in carbon capture and storage (CCS) projects is "nowhere near enough" to meet goals set out by G8 governments in July, claims the International Energy Agency (IEA). CCS is widely regarded as one of the most important technologies in bringing carbon emissions down.
How the mighty are fallen
1 December 2008
Crude fails to consolidate gains
25 November 2008
Oil prices got off to a strong start this week, rising by $5 a barrel on Monday to comfortably over $50/b. Traders attributed the rally to firmer equities, following the Citigroup bail-out, a weaker US dollar – boosting the appeal of commodities as a currency hedge – and cold weather. The growing prospect of another cut in Opec production at its 29 November meeting in Cairo was also seen as supportive.
Saudi Arabia rethinks expansion plans
25 November 2008
Regional producers, most notably Saudi Arabia, may delay large oil and gas developments as commodity prices fall, reports James Gavin
Petrobras' pre-salt plans under threat
25 November 2008
The financial crisis is threatening Petrobras' plans to fast-track pre-salt reserves development, offering opportunities for foreign firms. China's CNOOC is among the interested investors, writes Robert Cauclanis
Oil market gaze turns to China (1)
25 November 2008
Rising oil demand from China was one force behind the bull-run in energy markets of the last few years. Can the market rely on the country's economy to rescue prices? Derek Brower reports
Saudi Arabia rethinks expansion plans (1)
25 November 2008
Regional producers, most notably Saudi Arabia, may delay large oil and gas developments as commodity prices fall, reports James Gavin
Producers struggle through downturn
25 November 2008
Making biofuels is no longer the attractive proposition its was when oil was trading at over $100/b, but demand driven by transport-fuels quotas should see the industry through the economic slump, writes Ian Lewis
No other alternative
25 November 2008