Christopher De Marjury executive chief of Total gas and oil Company warned that world will not be able to produce more than 89 million barrel of oil per day indicating to the high prices of areas like Canada and the political restrictions on states like Iran and Iraq.
International Energy Agency announced that Demand for oil will decrease in world more than of what was expected in 2009 due to failing of world economy.
«Royal Dutch Shell» giant Anglo-Dutch oil company announced yesterday (Thursday) that its annual profits last year increased by 14% to reach 31.4 billion dollars, which is a record in history of British and European companies.
Russian company Gazprom on the morning of January 20 resumed again to pump gas to Europe via Ukrainian territory, after a two-week break because of fundamental differences with Kiev, which has refused to pass through the network of pipelines to extract concessions from Moscow over the price of imported and exported gas .
U.S. light Crude prices fell Thursday about 9% to reach to below 34$ a barrel influenced by the expectations of the Organization of Petroleum Exporting Countries “OPEC” that global energy demand will continue shrinking.
Goldman Sachs Bank for Investment predicted pressure on oil prices to continue to a rate of about 30 $ in the first quarter of this year.
The major Russian energy company Gazprom announced that Ukraine signing on Monday a new version of the control of Russian gas passing through its territory eliminate precedent conditions.
Saudi Foreign Minister Prince Saud al-Faisal expressed his country’s refusal and other countries in the Middle East, an Iranian call for Islamic countries to stop oil supplies to supporters of Israel because of the Israeli war on Gaza.
Crude oil prices were stable at the level of 48 $ a barrel, supported by the effects of the Israeli aggression on Gaza, and the conflict between Russia and Ukraine on natural gas.
Oil prices were steady during the Asian trading Wednesday, while 31/12 is to record its worst year ever lost by 60% after sharp drop from the record high level recorded last July, amid a retreat in the economic outlook.
