 Wysłany: Śro 6:59, 27 Kwi 2011 Temat postu: OPEC oil price hits new high on gro cheap Mexico 6 |
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| OPEC oil price hits new high on growing concerns of crude supply
The weekly average price of the Organization of Petroleum Exporting Countries (OPEC) hit 117.39 U.S. dollars per barrel last week,asics onitsuka tiger shoes, the highest level since the last week of July 2008, the Vienna-based cartel said Monday.OPEC weekly oil prices kept reaching record highs for three consecutive weeks,tiger shoes outlet, and its daily oil prices also kept climbing last week, a situation very rare for OPEC oil prices. Tensions in the Arab world remain high,cheap Mexico 66, which intensified global concerns on a tight supply of crude oil in the international oil market, resulting in an expected strong demand on crude oil.In addition to Libya, similar political turmoil breaking out in other oil-producing countries such as Yemen, Nigeria and Gabon last week also triggered increased concerns on oil. In Nigeria,asics running shoes, a major crude oil producer with a daily production of 2.2 million barrels,Asics Mexico 66 outlet, the postponement of presidential and parliamentary elections have caused tensions that raised investors' concerns on crude oil.In Gabon,Asics Mexico 66,村主任为拉生意聚众斗殴获刑2年 Asics Mexico 66 Baja, an oil workers' strike has led to a reduction of 240,onitsuka tiger shoes,000 barrels a day in low-sulfur crude oil production. Meanwhile, the cost of crude oil production also surged in Saudi Arabia,asics tiger shoes sale, the world's largest exporter of crude oil,Asics Gel Kinsei 2, making stabilization of international oil prices less likely.The oil minister of Iran,Onitsuka Tiger 2011, which holds OPEC's rotating presidency this year, has said that the current situation does not merit a special OPEC meeting. The weak U.S. dollar as well as positive U.S. economic figures and the coming fuel consumption season also helped keep oil prices high.Analysts said supply and demand in the current global oil market remains generally stable, and geopolitics continue to play a major role in driving up oil prices. The ongoing political unrest in the Arab world will continue to affect oil supply,Asics Ultimate 81, thus pushing up expectations on demand growth. In this context, international oil prices would continue to rise.Libyan leader Muammar Gaddafi on Sunday accepted a peace plan proposed by the African Union. If this can lead to a ceasefire and stability in Libya,asics onitsuka tiger, it will probably mitigate global concerns on the oil market. |
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