Monday December 12, 2005 
Monday December 12, 2005
OPEC President-In-Waiting:Demand Is Outstripping New Capacity
peakoil.com -> nasdaq.com :
OPEC's President-in-waiting, Nigeria's Oil Minister Edmund Daukoru, said late Saturday that the group should maintain its current output policy as global oil demand continued to outstrip new capacity gains.
In a telephone interview with Dow Jones Newswires, Daukoru, who becomes president Jan. 1, said: "Demand is rising as fast as any new capacity is coming on. I don't see anything happening going into the second quarter that will push prices down below $48 a barrel" for U.S. light, sweet crude futures.
OPEC is widely expected to keeps its current production levels intact when it formally meets Monday to discuss its output policy. With output of some 30 million barrels a day, a third of world demand, almost all of its 11 members are pumping flat out. With a production rollover almost a foregone conclusion, analysts and oil traders say they are keen to hear how OPEC views second-quarter supply-demand fundamentals.
See also :
1. Is OPEC becoming irrelevant?
2. Official : OPEC has reached limit
3. Saudi Tosses Oil Production Cap
(2005-12-12 08:31:33 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. Live spot gold price quotes chart on COMEX
4. Fuel prices seen stoking Malaysia inflation in 2008
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Singapore SIBOR rate fell to 1.25% in Apr 2008, lowest since Aug 2004
7. Malaysia inflation rate jumps to 7.7% in Jun 2008, a 26-year record high
8. Singapore : electricity tariffs to increase April 2008 on rising oil prices
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 falls to 0.94% in Nov 2008, lowest since Jul 2004
8. Singapore : Inflation erodes away bank savings
| archives | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| search | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Custom Search
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| sponsored links | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| bookmarks | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
about
sites
blogroll
forums |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| navigation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| decals | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| powered by | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| hosted by | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
