Trends
Opec: supply adequate; IEA lacks transparency
1 July 2008
OPEC went on the offensive last week, dismissing the IEA's claim that prices have brought the world into a "third oil shock" and saying the agency's figures lacked sufficient transparency to encourage producers to bring more oil on stream in the long term.
Alberta defends environmental record
1 July 2008
CANADA will employ the "best and latest technology and engineering available" to solve environmental problems arising from its development of the oil sands, and is to launch an aggressive programme to reduce emissions and air pollution.
Angola needs $100bn to keep output steady
1 July 2008
ANGOLA'S production will "soon" plateau at 2m barrels a day (b/d), but the country will need another $100bn of investment to keep it at that level in the medium term, according to Sonangol.
The subsidisers' dilemma
1 July 2008
Fuel subsidies around the world are distorting the oil market. But with oil prices now so high, something has to give. Derek Brower reports
It's the fundamentals – stupid
1 June 2008
Little has changed since last week: neither the oil price nor the explanations for why oil is at record highs. At around $136 a barrel, prices are off last week's record levels, but only by $4/b or so.
Market higher on IEA demand predictions
1 June 2008
Predictions of higher-than-expected demand for crude pushed oil prices up on Tuesday.
Too little, too heavy, too late
1 June 2008
Consumer governments have long been begging Saudi Arabia to help them out of the economic bind of high oil prices by pumping more crude. But the kingdom appears to have lost its legendary influence over the markets.
Market volatile ahead of US data
1 June 2008
OIL PRICES weakened again on Tuesday amid evidence that demand is responding to the recent bull-run in the market. In New York, the contract for July delivery of light sweet crude oil traded down as low as $125.20/b, a fall of more than $9/b since record highs last month.
Opec and the dollar
1 June 2008
If Opec pulled the plug on the dollar, the financial turbulence of the last year could be eclipsed by even greater problems. That is one of several reasons why the cartel will not take the step
Problems pending
1 June 2008
Oil sets new high as Nigeria problems continue
1 May 2008
Oil futures have set new record highs above $122 a barrel, amid continuing attacks on Nigeria's oil infrastructure.
Market pauses for breath
1 May 2008
OIL PRICES fell on Tuesday, following Monday's record high of $126.40 a barrel. Traders expect data from the US Department of Energy, to be released tomorrow, to show a 2.5m barrel build in crude stocks, taking them to over 325m barrels – above the five-year average.
Beware the 'super spike'
1 May 2008
Oil prices set yet another new record high – US futures today moved above $129 a barrel for the first time – and a handful of influential investors seem to think they could move much higher.
Kremlin freshens up its energy strategy
1 May 2008
The government plans to allow Gazprom to raise the domestic price it charges for gas, while the oil sector is set to benefit from tax cuts, writes Derek Brower
Oil prices fall on demand concerns
1 May 2008
Oil prices fell below $127 a barrel on Wednesday as concern grew that high prices may be starting to dampen demand.
Russia: more investment needed
15 April 2008
While the world has been fretting about oil prices near $100 a barrel, what it should really be worried about is gas. Europe today and the US in the future are moving towards a staggering dependence on imported natural gas. By Nadejda Victor, Program on Energy and Sustainable Development, Stanford University
Unstoppable rise ignores fundamentals
15 April 2008
Oil futures have resumed their seemingly unstoppable rise, setting a new trading record above $112 a barrel on Tuesday. New York light crude futures for May delivery reached a peak of $112.48/b – slightly above the previous record, set last week, of $112.21.
Market hints at correction
1 April 2008
DEMAND erosion and weakening stocks amid persistently poor economic data from the US could continue to weaken crude prices over the next week, with analysts asking if the market could be readying for a correction. All eyes will be on the weekly update from the US' department of energy, to be released tomorrow, indicating the health of crude inventories in the country.
Exuberance ebbs away as supply crunch fears grow
1 April 2008
The growing prospect of shortages in LNG supply after 2010 could start to destroy demand, as potential buyers consider alternative fuels. Alex Forbes reports from the Gastech conference in Bangkok