Peak oil review – August 4

1. Production and Prices

2. Iran

3. Nigeria

4. China

5. In the Congress

6. Energy Briefs

1. Production and Prices

It was another volatile week during which oil prices moved between $121 and $128 in response to various news reports. The perception that slowing US and OECD economies will stem the demand for oil still dominates the markets. This sentiment is punctuated by occasional threats to the oil supply. Last week the Iranian nuclear enrichment situation heated up again accompanied by renewed threats to attack Iran and to close the Straits of Hormouz. In Nigeria a pair of successful insurgent attacks on pipelines shut-in still more oil production.[…]

2. Iran

Oil prices jumped by nearly $5 a barrel on Friday when Israel