Oil at $80 just about right for GCC and not bad for U.S.
Thursday, August 5th, 2010 Posted in Economy, Oil | No Comments »The US Dollar Index (which measures US$ performance against a basket of leading currencies) has been falling rather sharply of late, coinciding with an inverse rise in the price of crude oil, which last traded above $82 a barrel ...
GCC poised for strong 2010 fiscal position
Tuesday, May 11th, 2010 Posted in Economy, Oil, Regional News | No Comments »Emirates Business 24|7 reports that strong crude oil prices, currently at around $75/bbl and exceeding Gulf Cooperation Council (GCC) forecasts, will greatly improve members' fiscal and current accounts. It is debatable whether surpluses will reach the levels of the boom ...
Middle East states move to mine sun: Solar output could exceed 1 trillion barrels of oil annually
Saturday, November 14th, 2009 Posted in General, Oil | No Comments »A published report by NCB Capital, a Saudi subsidiary of the National Commercial Bank, cited a study by the German Aerospace Centre that estimates the region's deserts "receive annually average solar energy equivalent to 1.5m barrels of oil per sq ...
What oil at $60 means
Monday, May 18th, 2009 Posted in Oil, Trade | No Comments »Early last week, oil briefly traded above $60 for the first time since November. Hard to believe that last summer oil peaked at nearly $150/bbl, and subsequently collapsed to a multi-year low of $32/bbl in February. So while we're way ...
While OPEC searches for a floor, UAE concludes Patriot purchase
Monday, December 22nd, 2008 Posted in Defense, Oil | No Comments »On Wednesday of this past week, OPEC agreed to slash production of crude by 2.2 million barrels a day in a desperate attempt to find a floor. Its action had little effect as prices tumbled to under $34 on Friday, reflecting declining demand and rising inventories. Current market conditions did ...
The reality of plunging crude
Tuesday, December 9th, 2008 Posted in Oil | No Comments »Desperate for an upside in a downside economy, U.S. consumers have found solace in plunging oil prices, which some analysts believe may dip below $25.00 per barrel in the coming year. Crude's freefall, resulting from a commensurate reduction in global demand, is a direct ...
TradeFlow21 Editorial: Yes, Mr. President, we can build a more prosperous, secure world through Middle East trade
Sunday, November 16th, 2008 Posted in Industrial investment, Markets, Oil, Trade | No Comments »We are traders all. We barter and bargain, agree then rescind, resume and conclude negotiations for goods and services throughout our lives. We trade because we are inclined by nature to do so, regardless of how we earn our daily ...
‘Era of cheap oil is over’ — IEA
Thursday, November 6th, 2008 Posted in Oil | No Comments »Double whammy: declining oil production, beyond what the IEA had previously thought, combined with the high costs of finding new oil, compel the IEA to double its long-term price expectation ($200 oil by 2030; first things first: $100+ avg per ...
Abu Dhabi assures as UAE declares no scaling down
Friday, October 31st, 2008 Posted in Markets, Oil, Real estate | No Comments »A $60 floor for oil prices seems reasonable at this point and is still profitable for the Gulf, although not quite like it was, when nearing $150/bbl. Abu Dhabi's budget is reportedly based on $40-$50/bbl prices, while Saudi's is ...
BREAKING NEWS: OPEC to slash oil production by 1.5 million barrels per day
Friday, October 24th, 2008 Posted in Oil | 1 Comment »In what may be the first round of reductions in production, OPEC ministers agreed on Friday to cut output by 1.5 million barrels per day. With oil in a virtual free fall, even the Saudis may have finally found the ...
