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EIA: US oil production to increase by 25% by 2014
According to the Energy Information Administration, the US oil production will grow by a quarter in the next two years, to its highest level in 26 years. The US oil production would grow by 900,000 barrels per day (bpd) in 2013 to 7.3 million bpd. The reason of the increase in oil production is mainly because of the discovery of vast reserves of shale oil.
read more... 10/01/2013
Daily: European power spot prices jump as cold weather is lifting demand
Brent crude oil climbed 54 cents to settle at $111.94 a barrel on Tuesday, backed by buying related to the annual rebalancing of the S&P GSCI commodity index. Meanwhile, front-month U.S. crude oil futures eased by 4 cents on Tuesday to settle at $93.15 a barrel, weakening as the S&P GSCI commodity index - one of the two biggest commodity indexes - began to rebalance for 2013.
read more... 09/01/2013
Factors behind oil price
The price of a barrel of oil is the result of a number of competing factors:
read more... 09/01/2013
Daily: European power prices decreased on a major wind power production in Germany
Crude oil was down on Thursday on concerns about looming U.S. budget discussions and signs of increasing anxiety by the U.S. Federal Reserve about buying bonds to spur economic growth. The U.S. budget crisis was under strongly surveillance by the oil markets , as well as steady problems in the euro zone, for signs over a possible decrease in fuel demand.
read more... 04/01/2013
Daily: Oil hits 4 week high above $112
Brent crude oil beat a four-week new record, higher than $112 per barrel on Wednesday, after the US Congress approved a deal to prevent a fiscal crisis, while promising data from top energy consumer China also supported prices.
read more... 03/01/2013