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Heavy fall in oil demand

Source: The Scotsman

London : United Kingdom | 5 months ago

0 0

A BP report revealed that worldwide consumption fell by 0.6 per cent last year to 84.4 million barrels per day. A BP economist said the spike of up to Â£85 per barrel last year had exacerbated the recession. Oil prices rose above Â£42 per barrel for the first time in months yesterday.

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News Stories

Oil near $72 on economic recovery hopes

News Source: Simi Valley - Moorpark Examiner | 5 months ago

AP Photo/Mary Altaffer) Traders work the crude oil options pit at the New York Mercantile Exchange Wednesday, June 10, 2009 in New York. Oil prices hovered near $72 a barrel Thursday as investor optimism about a global economic recovery pushed crude...
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News Source: International Business Times | 5 months ago

World oil demand will contract by less than previously expected this year, the International Energy Agency said as it raised its 2009 forecast for the first time since August 2008. "Markets are currently in a phase of identifying green or bamboo...
Heavy fall in oil demand

News Source: The Scotsman | 5 months ago

A BP report revealed that worldwide consumption fell by 0.6 per cent last year to 84.4 million barrels per day. A BP economist said the spike of up to Â£85 per barrel last year had exacerbated the recession. Oil prices rose above Â£42 per barrel...
ThisIsMoney.co.uk: BP's grim warning over North Sea oil

News Source: Uinta County News | 5 months ago

Chief executive Tony Hayward said output will fall by at least 5% a year in the coming years, and if investment is not stepped up the declines could be even steeper. Just 1.54m barrels of oil were produced in 2008, compared with a peak of 2.9m in...
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News Source: The Economic Times | 5 months ago

Oil prices rose in Asian trade Thursday, getting a lift from a bigger-than-expected drop in US crude reserves, analysts said. New York's main contract, light sweet crude for July delivery, gained 57 cents to 71.90 dollars, its highest in eight months.
Oil heads towards $72 on falling US inventories

News Source: Sify News | 5 months ago

U.S. light crude for July delivery rose 46 cents to $71.79 a barrel by 0048 GMT, having gained $1.32 on Wednesday to settle at $71.33, a fresh seven-month high after the US inventory data was released. London Brent crude gained 36 cents to $71.16. "...