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OPEC Production Stays Firm Amid Market Tumult
...rk, according to the latest MEES estimates. OPEC Basket prices averaged a record $112.11/B in 2011, compared to $107.46/B the previous year. OPEC’s 2011 production was almost 400,000 b/d up on 2010 (see table). And this was despite the loss of over 1mn b/d of Libyan output from the market. As so ma...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
EIA Sees Acceleration In Crude Demand Growth During 2012-13
...EIA Sees Acceleration In Crude Demand Growth During 2012-13 The US Energy Information Administration (EIA) said in its latest Short Term Energy Outlook, released on 10 January, that world oil consumption grew by around 1.0mn b/d in 2011 to 88.1mn b/d. This compares with the EIA’s 2010 es...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Crude Oil Formulas/Posted Prices
...Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2012 2011 Feb Jan Dec Nov Oc...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
WTI Returns To Low $90s/B Range
...the US Energy Information Administration (EIA) amid harsh winter conditions in the northern hemisphere, while demand growth is projected to rise during 2011-12. While economic data continues to impact WTI, the market appears to be once again responding to fundamentals. In its Weekly Pe...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
OPEC Output Hits Two-Year High In Response To Price Surge
...an that for 2009, indicating – given that prices were also higher – that OPEC’s estimate of a slight fall in the appetite for its crude last year is somewhat awry (MEES, 20 December 2010). Demand and price trajectories going into 2011 are uncertain. “The forward curve is very flat,” notes Leo Dr...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
EIA Sees Tightening World Oil Market Over 2010-12
...recast that global demand growth will average 1.4mn b/d in 2011 and 1.6mn b/d in 2012 – compared with an average of 1.3mn b/d annually in 2000-07. It noted that during the 2000-07 period, non-OECD countries accounted for about 75% of total world demand growth, while over the next two years the non-OE...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 OIL PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Syria (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 Jan Dec Nov Oc...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
EIA Sees Tightening Of World Oil Market In 2010-11
...untries themselves should “begin to show significant oil demand growth in 2011 in response to improving economic conditions.” It said economic growth in the OECD was projected to double from 1.2% in 2010 to 2.7% in 2011. It added that while compliance with oil production cuts by OPEC members has we...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010