Oil Demand High As Prices Surge

Oil demand high as prices surge

New evidence of rising global oil consumption emerges as Opec members' failure to increase quotas sends prices up again.

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Topics:  energy   oil   oil cartel   oil prices   opec   supply and demand   
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    TransCanada Corp. says the long-delayed Keystone XL pipeline will be in service months later than expected and cost more than its current $5.3 billion price-tag as it continues to await U.S. government approval. TransCanada had been sticking to its late 2014 or early 2015 start-up target, but the regulatory process has dragged on. More
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    A sharp decline in the price of oil this month is making gasoline cheaper at a time of year when it typically gets more expensive. It's a relief to motorists and business owners and a positive development for the economy. More
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    Africa's wealthiest man, Aliko Dangote, says he aims to invest up to $8bn in a major new oil refinery that would double Nigeria's current oil output. More
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    Exxon Mobil said CEO Rex Tillerson's total compensation rose 15% last year to $40.2 million. More
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  • UPDATE 8-Oil jumps 2 pct despite glut, hits 2016 peaks on weak ... - Reuters UK
    Oil jumps 2 percent despite glut, hits 2016 peaks on weak dollar - Yahoo! Singapore
    04/28/2016 - 3:04 pm | View Link
  • Crude Oil Prices Rallied despite Rising US Crude Oil Inventory - Yahoo! Finance
    Can high inventories cap rising gas prices? - Courier Tribune
    04/28/2016 - 1:53 pm | View Link
  • Nippon Steel, Sumitomo Corp renew 10-yr oil pipe contract with BP - Reuters UK
    Nippon Steel, Sumitomo Corp renew 10-yr oil pipe contract with BP - Reuters Africa
    04/27/2016 - 3:57 pm | View Link
  • Has the Oil Price Rally Gone Too Far? - Time
    Oil speculators are growing more confident that prices are gaining ground on the back of rising demand and ... gasoline demand is at a record high
    04/27/2016 - 11:34 am | View Link
  • China’s Growing Oil Reserves at Highest Rate in Years - Time
    UPI: China stockpiling oil at highest rate in over a decade - UPI
    04/26/2016 - 1:33 pm | View Link
  • More
  • IEA chief says oil price bottoming depends on global growth | Reuters
    With global oil demand seen growing by 1.2 million bpd this ... "It will depend on how high the price recovery will go and how long the level of prices will stay," he said. "Our analysis shows we need $60-$65 of oil prices in order to reverse the trends ...
    05/1/2016 - 9:04 pm | View Link
  • Forecast: Higher Gas Prices
    Prices at the pump should get more expensive this week thanks to an increase in oil prices and high demand for gasoline. Some discounters in the "Boro started the week with regular gas at $1.99. Crude oil prices rose for the third consecutive week ...
    05/1/2016 - 4:52 pm | View Link
  • Crude oil prices down in early trading
    During the trading session, the futures, considered to be the benchmark for crude oil prices in the USA, had traded up to a high of $45.18 per barrel ... overproduction, weak demand and a slowdown in the global economy. According to Fortune, Brent and ...
    05/1/2016 - 4:19 pm | View Link
  • Oil prices edge back from 2016 highs
    Oil markets steadied on Thursday after scaling 2016 highs for a third day in a row on the back of a weak dollar as investors looked beyond record high USA crude inventories and relentless pumping by major producers to the prospect of future demand.
    05/1/2016 - 1:01 pm | View Link
  • Oil prices close in on $50 to hit 2016 high
    "If I could figure out why the crude oil prices are so high!" said James Williams of WTRG Economics. The IEA forecasts global oil-demand growth to moderate to around 1.2 million barrels a day in 2016, slower than the 1.8 million-barrels-a-day expansion a ...
    05/1/2016 - 11:30 am | View Link
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