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Brent crude falls toward $102Brent futures dropped toward $102 on Wednesday after an unexpected jump in oil inventories in the world's largest consumer, the United States, while producer cartel Opec and the US government both trimmed global demand forecasts. More… |
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Shale estimates cement shift from oil to gasThe shale revolution is likely to have a far bigger effect on the global gas market than on oil supplies, entrenching the long-term price advantage of gas, according to new data from the Energy Information Admini More… |
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World spare oil capacity up, stocks dropThe world's spare oil production capacity outside of Iran rose slightly in the last two months, but a seasonal jump in winter heating consumption led to drawdowns from global stocks, the US government said on Thursday in a More… |
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US will be gas self-sufficient sooner than forecastThe United States is bringing forward by several years the date at which it expects to become a net exporter of natural gas, the country's top energy adviser said on Tuesday in the latest boost for the government's ener More… |
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US, Opec cut global oil demand forecastGlobal oil demand is looking weaker than previously forecast as the slowing economy continues to weigh on consumption, according to monthly reports released by the US government and Opec. The Or More… |
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US sees stronger world oil demand growthGlobal oil demand growth will accelerate next year, while non-Opec production will remain flat, driving oil prices to an average $99 a barrel, the US government said in its first energy forecast for 2012. The Department of Energy also said More… |
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US lifts world oil demand growth forecastThe US government has boosted its forecast for global oil demand growth this year and next, with developing countries driving consumption despite a slower outlook for the US economy. In its latest monthly report, the US Energy Information More… |
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Oil holds above $74 as China exports surgeOil pared losses and held above $74 after data showing Chinese overall exports surged in May offset weaker demand readings in top consumer the US. China's exports rose 48.5 per cent in May from a year earlier, the General Administratio More… |
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Oil above $70; US inventories supportOil stood above $70 a barrel on Thursday, extending its gains of the previous day, propped up by a smaller-than-expected rise in US crude stocks and gains in the euro currency. The euro held above four-year lows on Thursday, as its latest More… |
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Opec again lifts 2010 oil demand forecastOpec raised its estimate for world oil demand growth in 2010 for a third successive month on Tuesday, but its figures showed economic recovery would not be sufficient to wipe out a surplus of supply this year. The monthly report from the O More… |
