Tag Archives | Oil Price

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Libyan Oil Minister Wants Oil Price Over $100

Libya’s oil minister Abdurahman Benyezza would like to see oil prices above $100 a barrel, he said Thursday at a scheduled meeting of the Organization of the Petroleum Exporting Countries in Vienna. “I think that price would be good for global economy” [although] the “main point is to stabilize the price,” he said. When asked […]

Libya Cuts Es Sider Crude Price for July to 30 Cents Premium

Libya’s state-run National Oil Corp. reduced its official selling price of benchmark Es Sider crude for July by 55 cents to a premium of 30 cents a barrel to Dated Brent, according to a price list obtained by Bloomberg News. Following is a table of prices of Libyan crude grades. The blends are priced in […]

OPEC says oil plentiful, supply above market needs

OPEC is pumping enough oil to keep world markets more than satisfied and oil prices have been high largely due to geopolitical risk, the oil producing group said on Thursday. The Organization of the Petroleum Exporting Countries (OPEC) said its own production had risen in April to 31.62 million barrels per day (bpd) as Iraq […]

Was the Arab Spring Good for Renewable Energy?

The revolutions that have been taking place in the Arab world since December 2010 have had a significant impact on the economy, not only in the countries involved, but also the rest of the World. How is the Arab Spring, which has caused massive financial losses on one side, also able to influence growth and […]

Obama oil margin plan could increase price swings

President Barack Obama’s bid to dampen the influence of oil speculators by having regulators set trading margins could backfire, potentially making prices even more volatile and leaving crude dominated only by those with the deepest pockets. Under Obama’s request to Congress, the Commodity Futures Trading Commission (CFTC) would determine how much speculators need to pay […]

North Sea Leak May Dent Libya’s Relief to Brent Oil Price

The halt of Total SA (FP)’s Elgin platform in the North Sea after a gas leak may deny the Brent crude market the relief that was set to come with resurgent Libyan oil exports, according to BNP Paribas SA. Total said it would take at least six months to drill an emergency well to staunch […]

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IMF sees $160 oil risk despite Libyan boost

The Libyan state oil company NOC said it will export almost 1.4m barrels a day (b/d) next month as key oil fields come back on stream. The announcement came after Saudi Arabia said it had boosted output to a near record level of 9.87m b/d in January and stood ready to cover any shortfall as […]