NYMEX crude oil futures due to factors that deviate from the fundamentals up 41 percent, the U.S. Commodity Futures Trading Commission (CFTC) or will be taken to crack down on crude oil and natural gas market speculation.
Media News July 8, the U.S. Commodity Futures Trading Commission said on the 7th, the Committee may approve of restrictions on energy futures contracts are held by the number of ways to crack down on crude oil and natural gas market speculators.
CFTC Chairman said Gary Gensler, the Commission will be 7 at the end of August and held hearings on the Government to impose restrictions on crude oil, natural gas and other energy market, speculative trading activities need to be discussed.
CFTC plans to hold hearings on the above-mentioned reason is that speculative activities on the crude oil price impact is increasingly caused by members of Congress and regulatory attention.
In the New York Mercantile Exchange (NYMEX) 2009 as at the transaction date, crude oil futures prices have risen 41 percent; while at the same time, demand for crude oil have been declining, while stocks have been on the rise.
Jul. 8, 2009
Kuwait: more than 100 USD in oil prices will harm the global economy
July 2nd news of Kuwait, Kuwait Oil Minister Sheikh Ahmad Abdullah Al-Sabah said here today that more than 100 U.S. dollars a barrel oil prices will seriously harm the global economy.
Oil prices today (July 2) in the New York Mercantile Exchange trading fell to 69 U.S. dollars a barrel, oil prices in the June 30 had reached the last 8 months to the highest level for more than 73 U.S. dollars a barrel. On the global economic recovery in oil prices led to optimism in Q2 of this year rose more than 40% the proportion of this increase is the highest since 1990, the proportion of the quarterly increase.
Al-Sabah is in the Parliament of the media made these remarks. He said that oil prices at the 3rd quarter and 4th quarter is expected to not more than 100 U.S. dollars, more than 100 U.S. dollars in oil prices will again fall into the plight of the global economy.
Al-Sabah said that oil prices have reached the Petroleum Exporting Countries (OPEC) in the second half of this year to seek to achieve the level of speculation in oil prices and a weaker U.S. dollar is behind the recent rise of the main factors.
Al-Sabah has repeatedly stressed that if the oil market is still over-supply, then OPEC meeting in September will not consider increasing oil production.
Source: www.in-en.com Jul. 4, 2009
Oil prices today (July 2) in the New York Mercantile Exchange trading fell to 69 U.S. dollars a barrel, oil prices in the June 30 had reached the last 8 months to the highest level for more than 73 U.S. dollars a barrel. On the global economic recovery in oil prices led to optimism in Q2 of this year rose more than 40% the proportion of this increase is the highest since 1990, the proportion of the quarterly increase.
Al-Sabah is in the Parliament of the media made these remarks. He said that oil prices at the 3rd quarter and 4th quarter is expected to not more than 100 U.S. dollars, more than 100 U.S. dollars in oil prices will again fall into the plight of the global economy.
Al-Sabah said that oil prices have reached the Petroleum Exporting Countries (OPEC) in the second half of this year to seek to achieve the level of speculation in oil prices and a weaker U.S. dollar is behind the recent rise of the main factors.
Al-Sabah has repeatedly stressed that if the oil market is still over-supply, then OPEC meeting in September will not consider increasing oil production.
Source: www.in-en.com Jul. 4, 2009
Putin signed July 1 to raise oil export tax from the
June 29 Moscow News, the Russian government in its official website today said that the international oil market as a result of rising crude oil prices, Russia's oil export tax from July 1 onwards from the current 152.8 U.S. dollars per ton to 212.6 per tonne dollars.
June 26, Russian Prime Minister Vladimir Putin signed the relevant from the starting July 1 to increase exports of petroleum and petroleum tax laws.
From July 1, the light of Russia's export duty on petroleum products from the current level of 115.2 U.S. dollars per tonne to 155.5 U.S. dollars, and heavy oil products export tax from the current level of 62.1 U.S. dollars per ton to 83.8 U.S. dollars.
In order to market more quickly respond to changes in the Russian government last year to amend the first time every two months ago crude oil and petroleum products export tax modification changed once every month. Russian oil exports to amend the Government to increase the number of tax is to reduce the national oil companies to export oil when oil prices will face losses.
As the global financial crisis curbed oil demand, oil prices in July last year from 147.27 U.S. dollars per barrel record high down to the start of the year about 40 U.S. dollars per barrel.
Oil prices in the past period of time to re-climbed to more than 70 U.S. dollars a barrel level.
Source: www.in-en.com Jun. 30, 2009
June 26, Russian Prime Minister Vladimir Putin signed the relevant from the starting July 1 to increase exports of petroleum and petroleum tax laws.
From July 1, the light of Russia's export duty on petroleum products from the current level of 115.2 U.S. dollars per tonne to 155.5 U.S. dollars, and heavy oil products export tax from the current level of 62.1 U.S. dollars per ton to 83.8 U.S. dollars.
In order to market more quickly respond to changes in the Russian government last year to amend the first time every two months ago crude oil and petroleum products export tax modification changed once every month. Russian oil exports to amend the Government to increase the number of tax is to reduce the national oil companies to export oil when oil prices will face losses.
As the global financial crisis curbed oil demand, oil prices in July last year from 147.27 U.S. dollars per barrel record high down to the start of the year about 40 U.S. dollars per barrel.
Oil prices in the past period of time to re-climbed to more than 70 U.S. dollars a barrel level.
Source: www.in-en.com Jun. 30, 2009
Toyota believes that global oil production may peak by 2015
Toyota Motor Europe Group Environmental Affairs Manager Willy Tomboy Thursday and logistics in the oil Tankbank meeting said that global oil production may peak in the years 2012-2015, and then began to decline.
Global peak oil production is increasingly approaching the possibility that this will stimulate the hybrid and electric vehicle development, improve fuel efficiency and find alternative fuels.
Tomboy said that although the current peak of oil production is still controversial, but there are many scientific publications that this could happen.
Current hybrid vehicles, Toyota Europe accounted for 5.3% of sales, but Toyota is expected to hybrid vehicles in 2030 will rule the automobile market.
Source: www.in-en.com Jun. 26, 2009
Global peak oil production is increasingly approaching the possibility that this will stimulate the hybrid and electric vehicle development, improve fuel efficiency and find alternative fuels.
Tomboy said that although the current peak of oil production is still controversial, but there are many scientific publications that this could happen.
Current hybrid vehicles, Toyota Europe accounted for 5.3% of sales, but Toyota is expected to hybrid vehicles in 2030 will rule the automobile market.
Source: www.in-en.com Jun. 26, 2009
OPEC President: 70 U.S. dollars a barrel oil is a satisfactory
Media Luanda on June 20 reported that the Organization of Petroleum Exporting Countries (OPEC) President Jose de Vasconcelos 6 on 18 in the media here said that 70 U.S. dollars per barrel of oil is the oil-producing countries, whether for consumption or for oil States are at a satisfactory price.
At the same time as in Angola's Oil Minister Jose de Vasconcelos, said the rise in oil prices on the world economy is a positive signal. If oil prices remain at its present level, then OPEC is not necessary this year to cut oil production again.
OPEC implemented in a record deal with plans to cut oil prices plummeted in the second half of last year after 100 U.S. dollars, crude oil futures prices so far this year in the New York Mercantile Exchange trading up 60%. June 18, crude oil futures prices closed at 71 U.S. dollars a barrel.
Jose de Vasconcelos said that Angola may try to consult member countries in OPEC oil production quota re-allocation to increase their oil production. OPEC for oil production in Angola identified target is 1.656 million barrels per day.
Source: www.in-en.com Jun. 22, 2009
At the same time as in Angola's Oil Minister Jose de Vasconcelos, said the rise in oil prices on the world economy is a positive signal. If oil prices remain at its present level, then OPEC is not necessary this year to cut oil production again.
OPEC implemented in a record deal with plans to cut oil prices plummeted in the second half of last year after 100 U.S. dollars, crude oil futures prices so far this year in the New York Mercantile Exchange trading up 60%. June 18, crude oil futures prices closed at 71 U.S. dollars a barrel.
Jose de Vasconcelos said that Angola may try to consult member countries in OPEC oil production quota re-allocation to increase their oil production. OPEC for oil production in Angola identified target is 1.656 million barrels per day.
Source: www.in-en.com Jun. 22, 2009
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