Global Oil Demand Expected to Exceed Forecasts, Report Says

PARIS, Aug. 11

U.S. Fed’s optimism on economy high-stakes oil bet

“It really comes down to oil,” former Federal Reserve Board Governor Laurence Meyer said on Wednesday. “Everything is predicated on oil prices kind of receding, not being much above $40 a barrel. If it goes to $50, it’s a whole new game. If it stays at $45, it’s a bit of a pain.”

Reuters

Militia threaten Iraq oil lines if Najaf attacked

Shiite militiamen have threatened to blow up Iraq’s vital oil pipelines in the country’s south if United States forces attack the holy city of Najaf on Wednesday, a senior militia official said.

ABC

Petroleum Review Audio

Chris Skrebowski, Editor of the UK Petroleum Review, talks in depth about his BBC encounter with IEA Chief Economist Fatih Birol in which Birol made a startling admission, and about Saudi Arabia’s “old lamps for new” policy. Chris also talks about the real significance of the latest edition of the BP Statistical Review, the diminishing […]

Danger for the Petrodollar? China and Iran to start Barter trade

Thailand plans to negotiate a barter trade agreement with Iran in the near future. Thailand hopes to export Thai sugar to Iran in return for copper and oil from Tehran, the industry minister told journalists here. BANGKOK (TNA) — Thailand plans to negotiate a barter trade agreement with Iran in the near future. Thai Industry […]

Natural gas production falls in US despite high prices

RJA: US natural gas production continues downward trend By OGJ editors HOUSTON, Aug. 10 — US gas production during the second quarter showed a 3.8% decline compared with second quarter of last year, according to Raymond James & Associates Inc. based on a survey of 47 publicly traded US oil and natural gas exploration and […]

Oil Holds Strong Near $45 on Iraq, Russia

LONDON (Reuters) – Oil prices held strong near record highs on Wednesday as sabotage in Iraq, worries about Russian oil company YUKOS and a fresh warning on the lack of spare capacity in OPEC underscored concerns about tight world supplies.

Reuters

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