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High Oil Prices Due To Tightening Market Fundamentals, Says CGES
...ep pace with demand in 2011, the report said, even though consumption increased by only 650,000 b/d (0.7%) during 2011, while data suggests that global oil consumption actually fell in the final quarter of the year, the first drop since the middle of 2009. “A faltering economic recovery in the Eu...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Fesharaki Sees Disappearance Of US Oil Imports From Middle East
...rnerstone of the US policy for decades. Now, that is all changing.” Dr Fesharaki sets out a number of scenarios for the US to replace imports from the Middle East. US crude imports were estimated at 2.36mn b/d in 2008, but by 2011 had declined by almost 500,000 b/d to 1.89mn b/d, with 63% coming from Sa...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Crude Oil Formulas/Posted Prices
...Crude Oil Formulas/Posted Prices ($/B) Algeria (Dated Brent + / - Adjustment Factor; $/B) 2012 2011 Jan Dec Nov Oc...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
OPEC Sees Non-OPEC Supply Weak As First Quarter Gets Under Way
...arter 2011 and first quarter 2012 demand for its crude, largely on the back of downward revisions to estimates on non-OPEC supply. As a result the MOMR revised its projections for the call on OPEC crude in 4Q11 and 1Q12 by 220,000 b/d and 80,000 b/d respectively. The experience of the last few years ha...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
IEA Reduces Global Crude Demand Growth Forecast To 1.1Mn B/D For 2012
...id an “exceptionally precarious” economic backdrop in the fourth quarter of 2011 saw oil consumption globally return to a declining trend. Global oil demand fell by 0.3mn b/d (-0.3%) year-on-year, to 89.5mn b/d, the IEA said. “Elevated oil prices, partly a consequence of the standoff with Iran, fu...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
DME Reports 19% Growth In Trading Volume During 2011
...DME Reports 19% Growth In Trading Volume During 2011 The Dubai Mercantile Exchange (DME) on 18 January announced that it had recorded a year-on-year trading volume growth of 19% during 2011. The exchange said in a statement that it delivered more than 145mn barrels of crude during 2011, mo...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
China Imported 21.92Mn Tons Of Crude In December, 252.18Mn Tons Total In 2011
...China Imported 21.92Mn Tons Of Crude In December, 252.18Mn Tons Total In 2011 China imported 21.92mn tons (5.16mn b/d) of crude oil during December for a total of 252.18mn tons (5.04mn b/d) of crude during 2011, according to data released by China’s General Administration for Customs in ea...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
Crude Oil Formulas/Posted Prices
...Crude Oil Formulas/Posted Prices ($/B) Libya (Dated Brent + / - Adjustment Factor; $/B) 2012 2011 2010 Feb Jan Feb Ja...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
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 -
Crude Prices Move Into 2012 At Over $100/B
...nuary, the US Energy Information Administration (EIA) said US commercial crude oil inventories increased by 2.2mn barrels during the week ending 30 December 2011. At 329.7mn barrels, US crude oil inventories are in the upper limit of the average range for this time of year. Total motor gasoline in...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Japan’s Crude Imports Rise To 3.55Mn B/D For November
...Japan’s Crude Imports Rise To 3.55Mn B/D For November Japanese crude oil imports averaged 3.554mn b/d in November 2011, an increase of 4.5% over the October 2011 import average of 3.401mn b/d, according to import data released by Japan’s Ministry of Economy, Trade and Industry (METI) on 28...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Saudi Crude Prices Reduced To Europe And Asia For February
...days after B/L for the US, 40 days after B/L for NW Europe, and B/L date to the Far East – are as follows ($/B): US (Price Reference ASCI) 2012 2011 Feb Ja...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Saudi LPG Prices Raised For January 2012
...tane 2010 1 Jan 740.00 735.00 2011 1 Jan 935.00 920.00 2012 1 Jan 85...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
Crude Oil Formulas/Posted Prices
...Crude Oil Formulas/Posted Prices ($/B) Abu Dhabi ($/B) 2011 2010 Dec Nov Oct Sep Aug Ju...
Volume: 55Issue: 01/02Published at Mon, 09 Jan 2012 -
CGES Calls For OPEC To Produce More Crude In Face Of Tightening Fundamentals
...yadh needs an average basket price of $83/B, CGES said. Without more oil from OPEC crude prices will continue to rise during 2011, which along with rising agricultural and mineral prices, will push inflation rates up, “risking the imposition of higher interest rates on economies that are still st...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 5 31-Jan-2011 OPEC/OIL PRICES Crude Oil Formulas/Posted Prices ($/B) Iran (+ / - Adjustment Factor; $/B) 2011 2010 Feb Jan Dec Nov Oct Sep Au...
Volume: 54Issue: 05Published at Mon, 31 Jan 2011 -
IEA Increases Demand Growth Forecast On Global Economic Rebound
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 SUPPLY/DEMAND IEA Increases Demand Growth Forecast On Global Economic Rebound The International Energy Agency (IEA) has increased its forecast for global oil demand in 2010 and 2011 by an average of 320,000 b/d. In its la...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 4 24-Jan-2011 OIL PRICES/OPEC Crude Oil Formulas/Posted Prices ($/B) Algeria (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 Feb Jan De...
Volume: 54Issue: 04Published at Mon, 24 Jan 2011