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NEWS ABOUT: oil supply

oil supply stories: 27 news summaries

1 - 20 of 27 Stories | 1 2 Next >>

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With Oil Supplies Dropping, Look for Prices to Soar Again

Firms are delaying projects; millions of barrels a day face 'risk'

Mar 27, 09 8:01 AM CDT
(Newser) - A tough economy and falling prices have hit oil firms hard, forcing them to cut back capital spending and delay projects. So when demand again increases, supply could be short, the Wall Street Journal reports, driving prices back up. Slowing investment could hamper future supply growth by some 8 million... More »

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oil production • oil supply • oil prices • oil demand

(Newser) - Oil approached $41 a barrel today after OPEC said it would cut its output if necessary to stabilize prices, Reuters reports. “I think we still need more action,” OPEC’s secretary-general said, promising the cuts would be more thorough than many expected, with 80% compliance among the 12-member... More »

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OPEC • markets • oil price • crude oil • oil supply • financial crisis

Russia Stops Supplying Gas to Ukraine

Europe worried about supply disruptions if dispute continues

Jan 1, 09 9:35 AM CST
(Newser) - Russia's gas export monopoly has cut off Ukraine's supply over a contract dispute, and has boosted European supply to head off worries about reliability, Reuters reports. The EU gets 20% of its gas from Ukrainian pipelines. Kiev has already tapped the country's reserves, and maintaining the pressure in the supply... More »

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Russia • gas • European Union • Europe • Ukraine • oil supply • oil reserves • gas pipelines

$100 Oil Will Return Soon Enough: Study

Price will rebound with economy, likely to hit $200 a barrel in 2030

Nov 6, 08 10:53 AM CST
(Newser) - If today’s price of $60 per barrel of oil seems too good to be true, that’s because it is. Oil prices will rebound to $100 a barrel once the economy recovers, and climb toward $200 by 2030, the market’s most comprehensive review predicts. Output is declining at... More »

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oil • Saudi Arabia • oil price • predictions • oil supply • $100 a barrel oil • oil companies • Big Oil

Opinion

Why You Should Stop Worrying About Oil Shortages

We're well-stocked for any realistic calamities

Aug 21, 08 1:18 PM CDT
(Newser) - Energy security has become a matter of major public hand-wringing, but everyone ought to calm down, write Eugene Gholz and Daryl G. Press in the New York Times. Our oil supplies are perfectly safe—the US, its businesses, and its allies have more than enough oil to weather any... More »

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Iran • energy • oil supply • foreign oil • strategic petroleum reserve

 Supplies Drop as Big Oil's Power Shrivels

State-owned firms don't churn it out like Shell

Aug 19, 08 2:55 AM CDT
(Newser) - A rapidly changing world order has left the giant oil companies all monied up with nowhere to drill, the New York Times reports. The Western oil giants' share of production has plummeted from over half in the 1970s to just 13% today. Production is falling as oil supplies remain in... More »

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OPEC • ExxonMobil • Royal Dutch Shell • oil supply • oil exploration • oil companies • peak oil

MARKETS

 Stocks Post Modest Gains 


Aug 11, 08 3:47 PM CDT
(Newser) - Stocks managed to hold on to small gains today from a big early rally, as oil prices fell despite the fighting in Georgia, MarketWatch reports. The Dow closed up 48.03 points at 11,782.35. The Nasdaq gained 25.85 points to 2,439.95, and the S&P... More »

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Russia • Dow Jones • Georgia • Nasdaq • Kindle • oil supply • S&P 500 • Amazon • oil prices

 Oil Gushes Past $145 

Experts say a further weakening of the dollar will push prices higher still

Jul 3, 08 7:07 AM CDT
(Newser) - 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... More »

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

Sharp Decline Seen in
Future Oil Supplies 

Industry may require massive cash infusion to keep up with demand: analyst

May 22, 08 11:50 AM CDT
(Newser) - 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—... More »

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

 'Super-Spike' 
 Could Drive 
 Oil to $200 

Experts say $150 or more isn't out of the question as world demand grows.

May 7, 08 8:35 AM CDT
(Newser) - 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... More »

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

 $7 Gas? Analyst Sees It by 2012 

Limited supply, ever-increasing demand will nearly double current prices

Apr 25, 08 4:54 PM CDT
(Newser) - 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 »

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

Oil Hovers
Near $102
a Barrel

Iraq fighting, low gas supplies and weak dollar boost price

Mar 26, 08 6:16 AM CDT
(Newser) - 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... More »

MORE ABOUT:
inflation • oil price • crude oil • weak dollar • oil supply

$4 Gas Expected This Spring

Energy Department predicts gas prices to peak soon

Mar 12, 08 4:40 AM CDT
(Newser) - 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... More »

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

UPDATED

Oil Hits $104; OPEC Won't Budge

Cartel president blames 'mismanagement' of US economy for rising prices

Mar 5, 08 3:57 PM CST
(Newser) - 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... More »

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

Oil Flirts With Record-High $104

Passes inflation-adjusted all-time peak

Mar 3, 08 11:45 AM CST
(Newser) - 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... More »

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

Clock's Ticking on World Oil Supply: Shell CEO

Energy demand will top supply by 2015

Jan 25, 08 9:33 AM CST
(Newser) - 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... More »

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

An Oil Giant, Alaska Faces Gas Crisis

Poor infrastructure, focus on oil exploration behind costly supply issues

Jan 24, 08 8:07 AM CST
(Newser) - 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... More »

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

There's Plenty of Oil Left: Study

Researchers say new discoveries more than offset worked-out fields

Jan 17, 08 9:37 AM CST
(Newser) - 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.... More »

MORE ABOUT:
Iran • Russia • oil • OPEC • crude oil • oil supply • oil exploration • CERA

Bush Asks OPEC for More Oil

Warns even rogue Iranian attack would have 'serious consequences'

Jan 15, 08 9:32 AM CST
(Newser) - 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... More »

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

Oil Hits Record $100 a Barrel

Disruptions in Nigeria, Mexico
stoke supply concerns

Jan 2, 08 11:11 AM CST
(Newser) - 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... More »

MORE ABOUT:
oil • Nigeria • exports • Port Harcourt • oil price • Nigerian violence • oil supply • US stockpiles • $100 a barrel oil • interest rate cut

1 - 20 of 27 Stories | 1 2 Next >>


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