All Posts Tagged With: "russian oil"

OPEC Production Cut Fails to Inspire Oil Market; Oil Drops to Four-Year Low

Oil prices fell again yesterday (Wednesday) – dropping below $40 for the first time in four years – as weak demand and growing inventories overshadowed a record cut in production by the Organization of Petroleum Exporting Countries (OPEC).

Light, sweet crude for January delivery fell $3.54 to settle at $40.06 a barrel on the New York Mercantile Exchange – the lowest level since 2004. Oil futures actually traded as low as $39.88 during the day yesterday. The slide came in spite of an announcement by OPEC that the cartel would cut its production quotas by 2.2 million barrels per day (bpd),…

18Dec2008 | Money Morning | 0 comments | Continued

Russian Oil… Under Serious Constraints

I spoke on this subject in the middle of April, but there is more news coming…

“News of falling oil output has hit Moscow political circles like a bomb.”

So states a recent article in the Hundustan Times, another “go to” source for news about what is REALLY happening in the energy industry.

The Kremlin has invested heavily in Russia’s image as an energy superpower. During the recent Russian Victory Day celebrations on May 9, many commentators referred to Russia’s energy sector as one of the key elements of Russian power. Energy took a top billing, right along with Russia’s traditional military might and still-potent…

6Jun2008 | Energy and Oil | Comments Off | Continued

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