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July 25, 2008 11:08:51 PM CDT

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Stories related to: oil supply

Stories

20 Stories

  • July 2008

    • Oil Gushes Past $145

      newser  |  Associated Press  |  Jul 3, 08 7:07 AM CDT

      Oil Gushes Past $145

      The specter of conflict in Iran and a surprisingly large decline in US stockpiles pushed European oil prices above $145 today for the first time, reports the AP . A further weakening of the dollar, if the European Central Bank raises interest rates as expected later today, could push prices even higher. Crude has risen more than 50% since the end of 2007. More »

      Tags

      Iran  • oil price  • interest rate  • weak dollar  • oil supply

  • May 2008

    • Sharp Decline Seen in Future Oil Supplies

      newser  |  Wall Street Journal  |  May 22, 08 11:50 AM CDT

      Sharp Decline Seen in Future Oil Supplies

      The international agency that monitors oil supplies is preparing a very pessimistic forecast of future capacity, the Wall Street Journal reports, one that heightens worries over whether producers will be able to keep pace with exploding demand for oil. The International Energy Agency, whose previous models showed steady—and predictable—growth, is revising that sharply downward, the Journal says, though the report won't be out until November. More »

      Tags

      oil price  • crude oil  • oil production  • oil supply  • solar energy

    • 'Super-Spike' Could Drive Oil to $200

      newser  |  Wall Street Journal  |  May 7, 08 8:35 AM CDT

      'Super-Spike' Could Drive Oil to $200

      A “super-spike” could push oil beyond $150 a barrel by October, the highest it been in more than 135 years, experts say. That would drive the price at the pump past $4.50 a gallon and trim US economic output 3.3% in the 2 years following, reports the Wall Street Journal. Crude sold for a record $121.84 yesterday, up 96% from a year ago. More »

      Tags

      oil price  • gas prices  • oil  • crude oil  • electricity  • oil supply

  • April 2008

    • $7 Gas? Analyst Sees It by 2012

      newser  |  MarketWatch  |  Apr 25, 08 4:54 PM CDT

      $7 Gas? Analyst Sees It by 2012

      Oil and gas prices could double in the next four years, analysts say—with $7 per gallon possible by 2012. "It is increasingly clear that the outlook for oil supply signals a period of unprecedented scarcity," an analyst at investment bank CBIC tells MarketWatch. More »

      Tags

      oil price  • gas prices  • energy  • oil supply  • energy costs

  • March 2008

    • Oil Hovers Near $102 a Barrel

      newser  |  Associated Press  |  Mar 26, 08 6:16 AM CDT

      Oil Hovers Near $102 a Barrel

      Concern about potential supply disruptions in Iraq and American gasoline reserves pushed oil prices up for the second day in a row, despite expected news from the Energy Department that crude supplies in the US had rebounded, reports the Associated Press. The US dollar’s continued depreciation against a slew of currencies also helped inflate the price. More »

      Tags

      oil price  • inflation  • crude oil  • weak dollar  • oil supply

    • $4 Gas Expected This Spring

      newser  |  USA Today  |  Mar 12, 08 4:40 AM CDT

      $4 Gas Expected This Spring

      Skyrocketing gas prices could hit $4 a gallon as early as this spring, predict government analysts. A new Energy Department report estimates prices will peak at close to $3.50 in most of the nation in May and June, but the $4 barrier could be broken in some regions, and even across the country for a short period as demand peaks, reports USA Today . More »

      Tags

      oil price  • gas prices  • oil  • inflation  • oil supply  • $100 a barrel oil

    • Oil Hits $104; OPEC Won't Budge

      newser  |  Wall Street Journal  |  Mar 5, 08 3:57 PM CST

      Oil Hits $104; OPEC Won't Budge

      Crude oil rose to a record $104.52 a barrel today after OPEC decided to hold production steady. “The oil market is currently stable,” said Saudi Arabia’s oil minister. “There is no need to increase even one barrel of oil.” The cartel blamed sky-high prices on “tremendous speculation,” the Wall Street Journal reports. Oil futures were up $5 on the day. More »

      Tags

      US economy  • oil price  • recession  • oil  • Saudi Arabia  • OPEC  • oil supply  • commodities exchange  • supply and demand

    • Oil Flirts With Record-High $104

      newser  |  New York Times  |  Mar 3, 08 11:45 AM CST

      Oil Flirts With Record-High $104

      As oil soared to nearly $104 a barrel today, it set an all-time, inflation-adjusted record, surpassing even the height of the oil crises of the '70s and '80s, the New York Times reports. Futures touched $103.95 on the New York Mercantile Exchange, beating out the April 1980 record of $39.50 a barrel, or $103.76 adjusted for inflation. More »

      Tags

      oil price  • oil  • inflation  • commodities  • oil supply  • $100 a barrel oil  • New York Mercantile Exchange  • futures market  • oil crisis

  • January 2008

    • Clock's Ticking on World Oil Supply: Shell CEO

      newser  |  Times (UK)  |  Jan 25, 08 9:33 AM CST

      Clock's Ticking on World Oil Supply: Shell CEO

      World oil demand will outpace supply in 7 years, Shell's CEO warned in an email sent to employees in advance of the World Economic Forum in Davos, Switzerland. Jeroen van der Veer sees nuclear power, oil sands, and other unconventional energy sources replacing oil and gas out of necessity, whether or not world governments embrace renewable energy, the London Times reports. More »

      Tags

      oil  • energy  • alternative energy  • oil supply  • population  • Shell

    • An Oil Giant, Alaska Faces Gas Crisis

      newser  |  Christian Science Monitor  |  Jan 24, 08 8:07 AM CST

      An Oil Giant, Alaska Faces Gas Crisis

      Alaska—home of America's largest energy reserves—is facing a major energy crunch. The problem is a lack of infrastructure to get natural gas where it needs to be, the Christian Science Monitor reports. "It's the goofiest thing in the world, to be sitting on top of some of the biggest energy reserves in the world and have these challenges," one official says. More »

      Tags

      gas prices  • oil  • energy  • Alaska  • alternative energy  • oil supply  • oil drilling  • natural gas  • infrastructure

    • There's Plenty of Oil Left: Study

      newser  |  Wall Street Journal  |  Jan 17, 08 9:37 AM CST

      There's Plenty of Oil Left: Study

      New oilfields being brought online more than offset losses from depleted fields, says an optimistic report released today. Though it cited an Iran-sized 4.5% annual loss, key oil industry adviser CERA contends “there is no impending short-term peak in global oil production," reports the Wall Street Journal. Researchers, however, had little access to fields controlled by OPEC and Russia. More »

      Tags

      Iran  • Russia  • oil  • crude oil  • OPEC  • oil supply  • oil exploration

    • Bush Asks OPEC for More Oil

      newser  |  Associated Press  |  Jan 15, 08 9:32 AM CST

      Bush Asks OPEC for More Oil

      OPEC should start producing more oil, President Bush told Saudi Arabia’s King Abdullah today, or it risks damaging “consuming economies,” like the US. Bush said high oil prices were reducing consumer purchasing power, and said more supply “would be helpful.” He also warned Iran to avoid another Strait of Hormuz incident, saying any attack on US ships would have serious consequences. More »

      Tags

      Iraq  • George W. Bush  • Iran  • Condoleezza Rice  • oil  • Nouri al-Maliki  • Saudi Arabia  • OPEC  • King Abdullah  • oil supply  • Strait of Hormuz

    • Oil Hits Record $100 a Barrel

      newser  |  CNN  |  Jan 2, 08 11:11 AM CST

      Oil Hits Record $100 a Barrel

      Crude oil prices jumped $4.02 today to push past $100 a barrel for the first time as Nigerian violence, disrupted Mexican exports, and the specter of dipping US stockpiles stoked supply fears in the face of ever-rising energy demands, CNNMoney reports. The previous record was $99.29, set November 20. More »

      Tags

      oil price  • oil  • interest rate cut  • Nigeria  • exports  • oil supply  • $100 a barrel oil  • Port Harcourt

  • November 2007

    • Demand for Oil May Pass Output by 2012

      newser  |  Wall Street Journal  |  Nov 19, 07 10:07 AM CST

      Demand for Oil May Pass Output by 2012

      Production limits, not supply, could prompt an oil crisis in less than a decade as efforts to reduce demand and introduce alternative fuels trail growth in the world’s oil needs, the Journal reports. Oil companies currently produce 85 million barrels daily; some experts say they'll hit a wall at 100 million barrels—far below projected world demands, and a recipe for shortages and skyrocketing prices. More »

      Tags

      oil production  • oil supply  • solar energy  • Exxon  • oil refineries  • IEA

    • Chavez Warns of $200 Oil if US Strikes Iran

      newser  |  BBC  |  Nov 17, 07 6:48 PM CST

      Chavez Warns of $200 Oil if US Strikes Iran

      Crude oil prices could hit $150-$200 a barrel if Bush is “mad enough” to strike Iran, Venezuelan President Hugo Chavez warned today at the OPEC summit. “The basis of all aggression is oil,” said Chavez, arguing that OPEC should set itself up as “an active geopolitical agent.” Saudi Arabia’s King Abdullah countered, saying “Oil shouldn’t be a tool for conflict, [but for] development.” More »

      Tags

      Iran  • oil price  • oil  • Saudi Arabia  • Venezuela  • Hugo Chavez  • OPEC  • King Abdullah  • oil supply

    • Oil Breaks $98 in Advance of Supplies Report

      newser  |  Associated Press  |  Nov 7, 07 4:11 AM CST

      Oil Breaks $98 in Advance of Supplies Report

      Oil prices continue to break records, busting beyond $98 a barrel before settling at $97.98 in Singapore today, reports AP. Short-term effects like Monday’s attack on a Yemen pipeline contributed to the hike. Last week’s storms reduced Mexican exports to the US, and traders expected this winter’s demand to remain strong. More »

      Tags

      oil price  • Mexico  • oil supply  • Yemen  • North Sea

    • Oil Touches Record $97 a Barrel

      newser  |  MarketWatch  |  Nov 6, 07 2:24 PM CST

      Oil Touches Record $97 a Barrel

      Crude oil hit $97 a barrel today on the New York Mercantile Exchange, helped along by a weak dollar and an expected drop in supply—an especially impressive jump considering the 2% price drop yesterday. "What a difference a day makes," one analyst told MarketWatch. "This volatility is enough to give you vertigo." More »

      Tags

      oil price  • Mexico  • flood  • oil supply  • New York Mercantile Exchange

  • September 2007

    • Supply Worries Send Oil Near $80 a Barrel

      newser  |  Bloomberg  |  Sep 12, 07 3:38 PM CDT

      Supply Worries Send Oil Near $80 a Barrel

      Crude oil hit nearly $80 a barrel today—its highest price ever—thanks to dwindling supply. US inventories fell by 7M barrels last week, much more than the 2.7M analysts predicted. OPEC announced a production increase of only 500K barrels, which Bloomberg reports will not meet seasonal demand increases. Storms in the Gulf of Mexico also contributed to rising prices. More »

      Tags

      oil price  • United States  • credit crisis  • crude oil  • OPEC  • oil supply  • oil crisis

    • Is Biggest Oilfield Running Dry?

      newser  |  Atlantic Monthly  |  Sep 8, 07 4:00 AM CDT

      Is Biggest Oilfield Running Dry?

      The world’s most critical oil field might be nearing its end. Saudi Arabia, which accounts for 19% of all oil exports, doesn’t supply hard data about its production, but a little math sleuthing by a computer scientist shows the Ghawar reservoirs should be empty soon, the Atlantic reports. More »

      Tags

      oil  • Middle East  • Saudi Arabia  • oil supply  • oil field

    • Oil Prices Approach All-Time High

      newser  |  Financial Times (UK)  |  Sep 7, 07 3:16 AM CDT

      Oil Prices Approach All-Time High

      The price of oil approached a record high yesterday, hiking interest in next week’s OPEC meeting in Vienna, where observers hope the association will give some positive sign that production will increase. OPEC, however, seems divided on the matter, with the group’s president calling the market “very well balanced,” according to the Financial Times . More »

      Tags

      gas prices  • oil  • Middle East  • gas  • OPEC  • oil supply

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