Crude Oil Futures Trading News and Videos

submitted by oiltrades 528 days ago (via rss.feedsportal.com)

Opec has sharply reduced its forecast for world oil demand, it said in its latest monthly report, projecting a 580,000 barrel per day (bpd) drop in global demand, more than triple the 180,000bpd decline it predicted a month ago, The National has reported. Opec has earlier projected that a 600,000bpd drop in North American oil demand this year.

Kuwait oil exports to resume following bad weather

submitted by oiltrades 528 days ago (via rss.feedsportal.com)

Kuwaiti oil exports are expected to resume early on Thursday after being halted since late Tuesday by bad weather. In Saudi Arabia, loading at Saudi Arabia's largest oil export terminal at Ras Tanura has not been affected by bad weather that has halted exports from Kuwait, a shipper said. In Iraq, oil exports from the port of Basra, north of Kuwait, were unaffected by bad weather and continued on

Taqa 2008 profit rises 89%

submitted by oiltrades 528 days ago (via rss.feedsportal.com)

Abu Dhabi National Energy Co (Taqa) said its full-year profit for 2008 rose 89%, the company announced today. Net income advanced to Dhs1.95bn ($531m), or Dhs0.39 a share, from Dhs1.03 bn, or Dhs0.25, in the year-earlier period. Assets increased 29% to Dhs87.8bn by the end of 2008.

Oil price too low to attract investment, says UAE

submitted by oiltrades 528 days ago (via rss.feedsportal.com)

Crude oil prices of around $40 a barrel are too low to attract enough investment in new supplies, the oil minister for the UAE said. Mohammed al-Hamli, speaking at a conference in London, said the current crude oil price is about half the level needed to attract adequate investment in the industry, reported Reuters.

US House passes $787-billion economic stimulus bill, 246-183