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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: oil demand

oil demand stories: 6 news summaries

(Newser) - Big oil execs, analysts, and government sources say a century-old American tradition is waning: after years of increasing oil consumption, US guzzling has peaked, they believe. Last year, demand plunged 7.1% for gas, diesel, and jet fuel—the biggest drop since 1950, when dependable records began. And major changes... More »

MORE ABOUT:
oil • biofuel • oil companies • gas stations • oil industry • gas consumption • oil demand

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 »

MORE ABOUT:
oil production • oil supply • oil prices • oil demand


 Exxon Breaks Own 
 Profit Record 
 With $45B Haul 

The oil behemoth shattered the annual profit record despite slow fourth quarter

Jan 30, 09 8:13 AM CST
(AP) - Buoyed by last year's spike in crude prices, Exxon Mobil Corp. today reported a profit of $45.2 billion for 2008, breaking its own record for a US company, even as its fourth-quarter earnings fell 33%  from a year ago. The previous record for annual profit was $40.6 billion,... More »

MORE ABOUT:
United States • earnings reports • corporate earnings • Exxon Mobil • oil prices • oil demand

Global Demand for Oil Expected to Plummet

Consumption will drop in consecutive years; first time in 3 decades

Dec 9, 08 6:03 PM CST
(Newser) - The price of oil continued its descent today, settling at $42.07 a barrel amid new signs of collapsing demand worldwide, the Financial Times reports. Global consumption will shrink by 50,000 barrels a day in 2008 and by a whopping 450,000 barrels a day in 2009, the Energy... More »

MORE ABOUT:
OPEC • energy costs • Big Oil • oil prices • oil demand

Big Oil Takes Big Hit in Stocks' Dive

Demand slows, but company coffers
plenty full ... for now

Oct 7, 08 2:57 PM CDT
(Newser) - Oil companies’ stocks are plummeting, but the majors are comfortable with long-term plans and bulging coffers, the Wall Street Journal reports. The global economy is pushing crude prices down, and analysts think measures are necessary to keep share prices up. But larger outfits like Exxon made investments based on lower... More »

MORE ABOUT:
BP • credit crisis • stock price • oil companies • Exxon Mobil • oil prices • oil demand • financial crisis

 China's Thirst for
 Gaz-Guzzlers
 Boosts Oil Demand

SUV sales jump 43% over last year

Jul 28, 08 3:41 AM CDT
(Newser) - While soaring gas prices are driving Americans to buy more energy-efficient cars, Chinese consumers are opting for gas-guzzling Buicks and Hummers, reports the Washington Post. China accounts for 40% of the world's recent increase in oil demand. There were few private cars in China 15 years ago, but today... More »

MORE ABOUT:
China • Russia • Saudi Arabia • Venezuela • India • gas prices • Hummer • oil demand • Buick • oil subsidies • International Energy Agency

6 Stories


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