Peak Oil Review – Apr 20

Oil prices started last Monday at $52 a barrel, quickly fell to circa $50, and remained there for the rest of the week. Bad economic news and forecasts of lower demand for oil dominated the energy story, punctuated with occasional bursts of optimism from Wall Street which continues to maintain there are early signs of an economic rebound.

As the world

Recent reports about OPEC efforts to cut production appear to show that the enterprise has stalled after achieving about 3.8 million b/d of the 4.2 million that was mandated. So long as prices remain around $50 a barrel, OPEC seems content to let matters stand. The next OPEC meeting is about 5 weeks away.

Energy Bulletin