BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[OPEC Comfortable with Crude Prices]]>http://www.bloggingstocks.com/2010/09/14/opec-comfortable-with-crude-prices/http://www.bloggingstocks.com/2010/09/14/opec-comfortable-with-crude-prices/http://www.bloggingstocks.com/2010/09/14/opec-comfortable-with-crude-prices/#commentsFiled under: ,

OPEC logoAre you comfortable with the price you are paying to fuel your vehicles? If so, good; if not, you better look for an alternative fuel vehicle. The Organization of Petroleum Exporting Countries (OPEC) announced earlier today that it is "comfortable" with the current prices for black gold and that it doesn't want to "rock the boat" as the economy attempts to recover from the recession.

I assume that the members of OPEC then lit cigars with $20 bills and sat around sipping brandy from gold snifters while laughing uproariously. OPEC's Secretary General Abdalla El-Badri noted a sense of caution, because the cartel is trying to help the world economy. El-Badri stated that the path of the world recovery is "not really clear," and that OPEC doesn't "want to see a double-dip recession which ... would affect, negatively, almost everybody." Any change in prices or quotas this year will depend on unnamed "circumstances" according to the Secretary General.

Continue reading OPEC Comfortable with Crude Prices

OPEC Comfortable with Crude Prices originally appeared on BloggingStocks on Tue, 14 Sep 2010 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>black goldcartelcrude oilfeaturedinthenewsoilopecOrganization of Petroleum Exporting CountriesTue, 14 Sep 2010 17:00:00 EST<![CDATA[IEA increases 2008 global oil demand forecast]]>http://www.bloggingstocks.com/2007/12/14/iea-increases-2008-global-oil-demand-forecast/http://www.bloggingstocks.com/2007/12/14/iea-increases-2008-global-oil-demand-forecast/http://www.bloggingstocks.com/2007/12/14/iea-increases-2008-global-oil-demand-forecast/#commentsFiled under: , , , , , , , ,

The International Energy Agency Friday increased its forecast for 2008 daily global oil demand. IEA now expects daily global oil demand to increase by 2.1 million barrels to 87.8 million barrels, or an increase of 210,000 barrels per day from the group's previous estimate.

Further, the IEA also said the Organization for Economic Cooperation and Development members oil stockpiles in October 2007 fell to 52.6 days, or just below the 5-year average.

Energy prices

Energy prices cast aside the news Friday morning, at least for the time-being: oil fell 90 cents to $91.36 per barrel, heating oil fell 1 cent to $2.62 per gallon and unleaded gasoline dropped 4 cents to $2.37 per gallon.

"It's a slightly bearish report, but one that shouldn't move the markets too much," independent energy trader Jim Dietz told BloggingStocks Friday. "A 210,000 increase on a monthly revision isn't too bad, and the market expects these rough numbers to move around, so it's pretty much factored into the price." Dietz added that he remains flat and has no positions in oil, heating oil, gasoline or natural gas at this time.

Continue reading IEA increases 2008 global oil demand forecast

IEA increases 2008 global oil demand forecast originally appeared on BloggingStocks on Fri, 14 Dec 2007 14:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Asiaemerging marketsEmergingMarketsgasolinegasoline consumptiongasoline pricesheating oilheating oil pricesIEAInternational Energy AgencyLatin AmericaLatinAmericaOECDoiloil pricesOPECOrganization of Petroleum Exporting CountriesU.S. economyFri, 14 Dec 2007 14:33:00 EST<![CDATA[OPEC's dilemma may be resolved by taking a half-step]]>http://www.bloggingstocks.com/2007/12/03/opec-dilemma-may-be-resolved-by-taking-a-half-step/http://www.bloggingstocks.com/2007/12/03/opec-dilemma-may-be-resolved-by-taking-a-half-step/http://www.bloggingstocks.com/2007/12/03/opec-dilemma-may-be-resolved-by-taking-a-half-step/#commentsFiled under: , , , , , , , , ,

While analysts debate the dilemma OPEC faces at its meeting this week in Abu Dhabi -- whether to increase product to address high prices, or to hold the line due to oil's recent dip -- traders have their own take on what the cartel could do.

"If they're uncomfortable with a 500,000 barrel cut all at once, they could do it in stages: 250K and 250K," Jim Dietz, independent oil trader, told BloggingStocks Monday.

Complicated task

Nearly everyone in the market understands that OPEC's task is complex and made more-arduous by uncertainties facing the oil production environment. Oil prices danced with $100 per barrel about two weeks ago, but fears of slowing economic growth have since pushed them down by more than 10%. Oil futures continued their downward move Monday, falling 77 cents to $87.94 per barrel, continuing their biggest weekly decline in two years. Heating oil dropped about 2 cents to $2.49. Unleaded gasoline declined about 1 cent to $2.22.

Continue reading OPEC's dilemma may be resolved by taking a half-step

OPEC's dilemma may be resolved by taking a half-step originally appeared on BloggingStocks on Mon, 03 Dec 2007 11:44:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredgasolinegasoline pricesglobal economyNorwayoiloil pricesOPECOrganization of Petroleum Exporting CountriesRussiaU.S. economyMon, 03 Dec 2007 11:44:00 EST<![CDATA[An OPIC to counter OPEC? The time is right]]>http://www.bloggingstocks.com/2007/11/15/an-opic-to-counter-opec-the-time-is-right/http://www.bloggingstocks.com/2007/11/15/an-opic-to-counter-opec-the-time-is-right/http://www.bloggingstocks.com/2007/11/15/an-opic-to-counter-opec-the-time-is-right/#commentsFiled under: , , , , , , , , , , , , , , , ,

The "Totally Informal Economics Roundtable" (TIER) met this week. For those unfamiliar, the Roundtable achieves a quorum whenever yours truly and my three astute economist friends from graduate school convene to discuss matters economic...or to celebrate the birthday of one our school-age children.

This week's the topic was OPIC. That's OPIC, not OPEC.

Most readers/investors know about OPEC, the Organization of Petroleum Exporting Countries.






Continue reading An OPIC to counter OPEC? The time is right

An OPIC to counter OPEC? The time is right originally appeared on BloggingStocks on Thu, 15 Nov 2007 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alternate energy sourcesAsiaChinadeveloping worldemerging marketsenergyenvironmentEuropegasolinegasoline pricesindustrialized worldMiddle Eastoiloil pricesoil productionOilPricesOPECOrganization of Petroleum Exporting Countriesrenewable energyU.S.United StatesThu, 15 Nov 2007 17:00:00 EST