Wednesday September 13, 2006 
Wednesday September 13, 2006 OPEC: High and volatile prices may be new norm
High and volatile crude costs may signal "a new price era," a senior OPEC official said, insisting that the 11-nation cartel is doing all it can to bring prices down to more reasonable levels. OPEC acting secretary-general Mohammed Barkindo defended the group's decision to keep its production target steady at 28 million barrels a day. OPEC made clear that it would keep close tabs on prices, which have recently fallen to five-month lows, and consider a cut in output quotas this year.
The comments came as oil prices fell almost 3% yesterday, dropping below $64 a barrel as worldwide demand and supply threats ease. After a seven-day sell-off, crude futures are at their lowest since late March.
See also :
1. Crude oil falls below $64 on forecast for lower global demand
2. Oil rout deepest in 16 yrs
(2006-09-13 18:16:41 SGT)
[Energy]
Permalink
Comments:
Post a Comment:
Comments are closed for this entry.
Most popular blog postings on lowem.log :
1. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
2. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
3. Fuel prices seen stoking Malaysia inflation in 2008
4. Singapore SIBOR rate fell to 1.25% in Apr 2008, lowest since Aug 2004
5. Malaysia inflation rate jumps to 7.7% in Jun 2008, a 26-year record high
6. 2010 Honda Civic Hybrid preliminary specifications released
7. 2009 Honda Global Small Hybrid details released : bigger than Jazz/Fit, smaller than Civic
8. Singapore : Inflation rate could push past 6% in Q1 2008
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. Singapore : Bread price inflation continues
4. 2010 Honda Civic Hybrid preliminary specifications released
5. Peakoiler buys 2008 Honda Civic Hybrid FD3
6. How to insert currency exchange rates into Google Spreadsheets
7. Singapore SIBOR rate fell to 1.25% in Apr 2008, lowest since Aug 2004
8. Singapore : Inflation erodes away bank savings
| archives | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| search | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Custom Search
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| sponsored links | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| bookmarks | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
sites
blogroll
forums |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| navigation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| decals | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| powered by | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| hosted by | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
