${log.root}/lowem.log
Inflation, Investing and Everything


All | Musings | Tech | Java | Biz | Energy | Env

AddThis Feed Button
20060913 Wednesday September 13, 2006

Crude oil falls below $64 on forecast for lower global demand

bloomberg.com :

Crude oil dropped below $64 a barrel in New York after the International Energy Agency cut its global consumption estimates. Global oil demand will average 84.7 million barrels a day this year, 100,000 barrels less than was forecast last month, the Paris-based IEA said.

Crude oil for October delivery fell to $63.90 a barrel on the New York Mercantile Exchange. Futures touched $63.87, the lowest since March 27. Futures have declined seven days, the longest stretch since October 2003. Oil has plunged 17% from a record $78.40 a barrel on July 14 on signs demand growth will slow and as Middle East tensions ease.

OPEC, which supplies 40% of the world's oil, agreed to keep its output target unchanged at 28 million barrels a day. Qatar's oil minister Abdullah bin Hamad al-Attiyah said that the group may consider cutting output at its next meeting in December if prices fall.

See also :

1. TSX tumbles 213 points on resource weakness
2. Sky falling on resources boom

(2006-09-13 12:58:25 SGT) [Energy] Permalink

Comments:

Post a Comment:

Comments are closed for this entry.




Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004





archives
search
sponsored links





bookmarks

about
my profile
contact me

personal
biow
ken
wenn

sites
photo gallery
wiki

blogroll
reviewem
sgenergycrisis
theenergycollective

forums
goldclubasia.com
peakoil.com


navigation
decals

Click for Singapore, Singapore Forecast





rss feed for lowem.log

Get Firefox!

powered by
hosted by