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 MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn
Featured articles on lowem.log :
1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out
| search |
|
|
| sponsored links |
|
|
| bookmarks |
|
about
blogroll
sites
quotes
charts
historical |
| navigation |
| decals |
|
| powered by |
|
| hosted by |
|