International Energy expects decline in oil reserve after OPEC’s steps
International Energy Agency expressed its concerns of probable drop in oil reserve in large industrial countries due to OPEC latest procedures.
World Oil & Gas news
Oil continues its recovery after US banks rescue plan
World oil prices rose to 54 $ a barrel, continue to rise for the fifth consecutive week on expectations due to the efforts of the U.S. Treasury Department to the stability of the global financial system.
Total investigates chemical material store fire in Hadermout… no casualties
Total French company for Gas and oil production in Yemen announced that emergency union in the company extinguish fire in one of the companies store in 14 block in Massela in province of Hadramout south east Yemen.
US crude contracts raised more than 4 $
Future contacts of American crude oil jumped more than 4$ yesterday to exceed 52$ a barrel after a move by Federal Reserve Board of U.S Central Bank to pump additional trillion $ in the American economy.
oil prices dropped ahead of OPEC’s meeting
World oil prices have plummeted the day before the meeting of Organization of Petroleum Exporting Countries (OPEC) in the Austrian capital, amid expectations that stockpiles of oil, down to the developed countries in the event of the organization’s commitment to reduce production rates agreed upon.
Total expects raise of oil prices next year to 60$
An official in French giant company Total said that company expects oil prices range for this year by 40 to 45 $ a barrel and will raise to 60 $ next year.
Oil rises 2% to nearly $ 47 a barrel
Oil raised more than 2% today to close to 47$ a barrel, continuing to rise during the previous meetings, thanks to the U.S. dollar and the decline in optimism that OPEC would cut production again during a meeting this month.
American crude prices exceeded 40 $ affected by city group banking group report
American light crude prices raised to exceed 40 $ influenced by investors comfort after a report said that American Administration may seek to possess up to 40% of giant banking group (City Group).
Oil exceeds 39 $ after U.S. inventory data
U.S. light crude prices rose more than 5 $ Thursday, affected by a U.S. official showed commercial crude stocks decline abruptly last week.
Oil prices are near to 34$ in Asian trade
American oil prices are continuing its drawn today Wednesday in Asian markets in the beginning of trade after the sharp drop in its prices yesterday.
