tag:blogger.com,1999:blog-50855525555355321482009-02-28T23:57:08.232-08:00News and updates on energy trading worldwide.Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.comBlogger229125tag:blogger.com,1999:blog-5085552555535532148.post-53498923542000386762009-01-13T16:04:00.000-08:002009-01-13T16:17:15.554-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/_YqYaSbT8xWI/SW0vAT61fcI/AAAAAAAACyw/vI5uLzlwB3o/s1600-h/pelosi-obama-getty-84172590.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 300px; height: 251px;" src="http://2.bp.blogspot.com/_YqYaSbT8xWI/SW0vAT61fcI/AAAAAAAACyw/vI5uLzlwB3o/s320/pelosi-obama-getty-84172590.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5290936819623755202" /></a><br />The <a href="http://http://www.telegraph.co.uk/finance/breakingviewscom/4220392/Obama-shouldnt-repeat-Tarp-errors-with-stimulus.html">stimulus package </a>being planned by the incoming president<a href="http://http://www.bloomberg.com/apps/news?pid=20601103&sid=aBGxCbZAcduk&refer=us"> Barack Obama </a>and the Congress could possibly make a significant boost to the drowning US economy according to Federal Reserve Chairman Ben Bernanke. Bernanke comments pushed up the <a href="http://http://www.investmentmarkets.co.uk/20090113-2898.html">oil price</a> in the international market.<br /><br /><br />The Organization of Petroleum Exporting Countries, which supplies 40 percent of the world's crude, has announced production cuts of 4.2 million barrels a day in an effort to stop declining crude prices.<br /><br />OPEC Secretary General Abdalla Salem El-Badri said on the group's Web site that member countries are complying with the 500,000 barrel-a-day production cut implemented in September and the 2.2 million barrel-a-day production cut implemented last month.<br /><br /><a href="http://http://www.google.com/hostednews/ap/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD95MFD3O1">more...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-5349892354200038676?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-16323830523266833262009-01-12T17:50:00.000-08:002009-01-12T18:07:47.686-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SWv3aFFjAxI/AAAAAAAACyA/0lv2MaFCuEg/s1600-h/opec-oil330.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 269px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SWv3aFFjAxI/AAAAAAAACyA/0lv2MaFCuEg/s320/opec-oil330.jpg" alt="" id="BLOGGER_PHOTO_ID_5290594214690882322" border="0" /></a><br />From the average<a href="http://http//blogs.wsj.com/environmentalcapital/2009/01/12/oil-prices-despite-opec-cuts-dismal-demand-keeps-pushing-prices-down/"> oil price </a>of $40 per barrel last week, <a href="http://http//news.xinhuanet.com/english/2009-01/12/content_10647553.htm">OPEC</a> oil price has slightly rebounded with above $43 per barrel on Monday according to Vienna-based cartel.<br /><br /><span id="Zoom"> In addition, the extent of OPEC's output slash was within expectations, so the market rebound it brought about was limited in terms of both scale and duration. Moreover, the exchange rate of the U.S. dollar, another factor that influences oil prices, has also been relatively stable lately. </span><p><span id="Zoom"> At present, the world economy still shows a clear declining trend, and the lack of consumption, and pessimism over the crude oil market, is imposing great pressure on the market's recovery.<br /></span></p><p><span id="Zoom"><a href="http://http//news.xinhuanet.com/english/2009-01/12/content_10647264.htm">more...</a><br /></span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-1632383052326683326?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-42649036837397507232009-01-11T20:39:00.000-08:002009-01-11T21:01:10.382-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_YqYaSbT8xWI/SWrOjTTWr0I/AAAAAAAACxY/YJ5IsBhHWbk/s1600-h/Oil_Rigs.resize.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 217px;" src="http://4.bp.blogspot.com/_YqYaSbT8xWI/SWrOjTTWr0I/AAAAAAAACxY/YJ5IsBhHWbk/s320/Oil_Rigs.resize.jpg" alt="" id="BLOGGER_PHOTO_ID_5290267818172264258" border="0" /></a><br />A not-so-surprising high percentage of <a href="http://http//english.aljazeera.net/news/americas/2009/01/200919154834239829.html">US unemployment rate</a> has alarmed oil producers as its price has fall to <a href="http://http//www.philstar.com/Article.aspx?ArticleId=430771&amp;publicationSubCategoryId=63">$40 a barrel</a> level. The fact might give another worries on energy demand.<br /><br /><br /><p>The world's top oil exporter, Saudi Arabia, plans to cut output by up to 300,000 barrels per day (bpd) below its agreed OPEC target, a proactive step to prop up a collapsing market, industry sources said on Sunday.</p><span id="midArticle_7"></span> The OPEC kingpin has already lowered supply this month to 8 million bpd, meeting its target under OPEC's pact to reduce overall supplies by a record amount from January 1.<br /><br /><a href="http://http//uk.reuters.com/article/reutersComService_3_MOLT/idUKTRE49B3Y620090112">more...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-4264903683739750723?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-48560118948128863042009-01-07T17:51:00.000-08:002009-01-07T18:01:57.847-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SWVejMCl4iI/AAAAAAAACww/iH-FPHB_Bls/s1600-h/oil.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 198px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SWVejMCl4iI/AAAAAAAACww/iH-FPHB_Bls/s320/oil.jpg" alt="" id="BLOGGER_PHOTO_ID_5288737296037044770" border="0" /></a><br />The US government report showed that <a href="http://http//money.cnn.com/2009/01/07/markets/oil/?postversion=2009010717">US oil reserves</a> were much higher than expected. The report had ushered the <a href="http://http//www.channelnewsasia.com/stories/afp_world_business/view/400973/1/.html">energy prices</a> to plunge on Wednesday.<br /><br /><br /><p>The national average at the gas pump rose about four cents overnight to $1.727 a gallon but remains well below year-ago levels, according to auto club AAA, the Oil Price Information Service and Wright Express.</p><p>Rising prices coincide with a drop off in gas consumption, according to the weekly SpendingPulse report by MasterCard released Tuesday.</p><p><a href="http://http//www.google.com/hostednews/ap/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD95IGMRO1">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-4856011894812886304?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-33675013517226869132009-01-06T15:17:00.000-08:002009-01-06T15:28:03.686-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SWPo8mT5l3I/AAAAAAAACwI/AllUa1Nv_Po/s1600-h/oil.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 217px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SWPo8mT5l3I/AAAAAAAACwI/AllUa1Nv_Po/s320/oil.jpg" alt="" id="BLOGGER_PHOTO_ID_5288326515236902770" border="0" /></a><br />It might be the time for the <a href="http://http//www.nbr.co.nz/article/oil-stocks-boost-2009s-start-world-sharemarkets-39392">oil stock market</a> to pause for awhile and evaluate the possibilities whether oil can continue to rally as a severe economic downfall is still experienced.<br /><br /><a href="http://http//www.google.com/hostednews/afp/article/ALeqM5g1HTpYFuyA6dnSQh-gdsbKpiBnnA">Oil inventories</a> are likely to play a major role in determining whether the recent rally lasts through the month. The Organization of Petroleum Exporting Countries appears to be complying with production cuts announced in October, though the level of adherence to a second reduction in December won't be known for weeks.<br /><br /><a href="http://http//online.wsj.com/article/SB123123971761757033.html?mod=googlenews_wsj">more....</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-3367501351722686913?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-23621000544055499242009-01-05T03:57:00.000-08:002009-01-05T04:09:25.049-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_YqYaSbT8xWI/SWH4UsJ1-jI/AAAAAAAACvg/zfdOXh5nXI4/s1600-h/oil.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 203px;" src="http://3.bp.blogspot.com/_YqYaSbT8xWI/SWH4UsJ1-jI/AAAAAAAACvg/zfdOXh5nXI4/s320/oil.jpg" alt="" id="BLOGGER_PHOTO_ID_5287780471843191346" border="0" /></a><br />The <a href="http://http//www.business-standard.com/india/news/oil-prices-higher-in-asiamideast-conflict/10/46/52207/on">tensions in the middle east</a>, particularly in Gaza, have pushed the <a href="http://http//news.bbc.co.uk/2/hi/business/7811043.stm">oil price </a>to almost three week high and have risen more than 25 percent since Israel launched its offensive against Gaza on December 27.<br /><br /><p>An Iranian military commander has called on Islamic countries to cut oil exports to Israel's supporters in Europe and the United States in response to the offensive in Gaza, the official IRNA news agency reported on Sunday.</p><span id="midArticle_9"></span> <p>However, core OPEC oil producers in the Gulf were likely to ignore Iran's call, an OPEC source said on Monday.</p><p><a href="http://http//www.reuters.com/article/businessNews/idUSTRE49B3Y620090105">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-2362100054405549924?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-34589842977798661042009-01-01T18:06:00.000-08:002009-01-01T18:28:01.774-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SV15mrBTiNI/AAAAAAAACu4/GXeUh98gtpI/s1600-h/oil.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 226px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SV15mrBTiNI/AAAAAAAACu4/GXeUh98gtpI/s320/oil.jpg" alt="" id="BLOGGER_PHOTO_ID_5286515242893019346" border="0" /></a><br />Its not part of the year end report but only a weekly report conducted by the Energy Information Administration which concluded that the<a href="http://http://www.dailystar.com.lb/article.asp?edition_id=10&amp;categ_id=3&amp;article_id=98743"> oil price</a> is seen higher due to this <a href="http://http//www.forexpros.com/news/general-news/crude-oil-inventories-%28weekly%29-actual-0.5m,-expected--1.4m,-previous--3.1m-17363">inventory report</a>.<br /><br /><br /><p>The S.&amp;P. index is up 9 percent so far this month, and the Dow is 6 percent higher, and the markets have not re-tested the five-year lows they set in mid-November.</p>“Those are positive signs,” Mr. Sachs said.<br /><br /><a href="http://http//www.nytimes.com/2009/01/01/business/01stox.html?_r=1&amp;ref=business">more...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-3458984297779866104?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-16064048219918295312008-12-18T03:40:00.000-08:002008-12-18T04:05:15.232-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_YqYaSbT8xWI/SUo8X8z31iI/AAAAAAAACuQ/7BbuDm1_j5M/s1600-h/opec2.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 226px;" src="http://3.bp.blogspot.com/_YqYaSbT8xWI/SUo8X8z31iI/AAAAAAAACuQ/7BbuDm1_j5M/s320/opec2.jpg" alt="" id="BLOGGER_PHOTO_ID_5281099895203681826" border="0" /></a><br />The OPEC's recently planned<a href="http://http//english.rednet.cn/c/2008/12/18/1666159.htm"> oil production cut </a>has been already imposed. However, said output cut still has no impact on the oil price, it has failed to push the oil price up.<br /><br /><br /><span class="DetaildSuammary" id="Span1"><p>Opec, which produces about 40 per cent of the world's oil, approved a cut of more than two million barrels, leaving the level of production down 4.2 million barrels from September.</p> <p>Oil demand has dwindled in recession-hit industrialised nations, and the cut was endorsed by many Opec members before the meeting in Oran in an attempt to stabilise the price.</p><p><a href="http://http//english.aljazeera.net/business/2008/12/2008121833532911313.html">more...</a><br /></p></span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-1606404821991829531?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-83903463995937564182008-12-14T17:41:00.000-08:002008-12-14T17:48:52.294-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SUW3fB6J3eI/AAAAAAAACLk/6nf8t29q9ls/s1600-h/opec.JPG"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 250px; height: 166px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SUW3fB6J3eI/AAAAAAAACLk/6nf8t29q9ls/s320/opec.JPG" alt="" id="BLOGGER_PHOTO_ID_5279827881877954018" border="0" /></a><br /><a href="http://http//economictimes.indiatimes.com/Oil_price_heading_towards_25-30_a_barrel/articleshow/3835451.cms">Oil price</a> rose to $47 per barrel with an average price rise of about $1 on Monday due to some signs that<a href="http://http//business.smh.com.au/business/opec-to-cut-output-again-in-attempt-to-halt-price-slide-20081214-6y8v.html"> OPEC</a> is posing another deep cut in supply during its meeting on the coming Wednesday.<br /><br /><br /><p> OPEC ministers are in agreement on the need to cut output when they meet on Wednesday in Algeria to prop up sagging prices, OPEC President Chakib Khelil said on Saturday. [ID:nLD147427]</p> <p> "OPEC's bullish comments on supply cuts, such as 2 million barrels per day is supporting the price," said Ken Hasegawa, a commodity derivatives sales manager at broker Newedge in Tokyo.</p><p><a href="http://http//africa.reuters.com/wire/news/usnT81038.html">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-8390346399593756418?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-45552996094084221292008-12-11T04:16:00.000-08:002008-12-11T04:24:05.924-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_YqYaSbT8xWI/SUEGXnwRthI/AAAAAAAACK8/018ONmjX5xA/s1600-h/opec.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 258px;" src="http://3.bp.blogspot.com/_YqYaSbT8xWI/SUEGXnwRthI/AAAAAAAACK8/018ONmjX5xA/s320/opec.jpg" alt="" id="BLOGGER_PHOTO_ID_5278507241133159954" border="0" /></a><br />A slight rebound for oil price happened on Wednesday amid talks on<a href="http://http//business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article5321219.ece"> oil production cut</a> from OPEC.<br /><br /><br /><p>In November, OPEC pumped about 28.16 million barrels a day, not including Indonesia, which leaves the group at the end of the year, and Iraq, according to research firm Platts. That is a decline of only 950,000 barrels a day from October.</p><p>"The bottom line is there is a lot of cheating going on," said Peter Beutel, oil analyst with Cameron Hanover. "If [a country] can sell higher volumes at the theoretically higher price, they're going to do better."</p><p><a href="http://http//money.cnn.com/2008/12/10/markets/oil/?postversion=2008121009">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-4555299609408422129?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-20232234980961776332008-12-09T19:49:00.000-08:002008-12-09T19:58:15.288-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/_YqYaSbT8xWI/ST8-TCWsIMI/AAAAAAAACKU/-hurO4-bfrw/s1600-h/oil.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 206px;" src="http://2.bp.blogspot.com/_YqYaSbT8xWI/ST8-TCWsIMI/AAAAAAAACKU/-hurO4-bfrw/s320/oil.jpg" alt="" id="BLOGGER_PHOTO_ID_5278005785071984834" border="0" /></a><br />For the seventh times in eight days, <a href="http://http//www.thestreet.com/story/10452285/1/how-to-play-lower-oil-prices.html?puc=googlen&amp;cm_ven=GOOGLEN&amp;cm_cat=FREE&amp;cm_ite=NA">crude oil price</a> fell following the speculation that the global demand will decline in the next coming year.<br /><br /><br /><p>A government report is forecast to show that U.S. crude-oil inventories rose 1.5 million barrels last week, according to the median of 13 responses in a Bloomberg News survey. The report will probably show that U.S. supplies of gasoline and distillate fuel, a category that includes diesel and heating oil, dropped.</p> <p>The Energy Department is scheduled to release its weekly report on Wednesday.</p><p><a href="http://http//business.smh.com.au/business/markets/oil-drops-as-us-demand-falls-20081210-6v41.html">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-2023223498096177633?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-58250395824921911332008-12-09T03:06:00.000-08:002008-12-09T03:16:56.285-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_YqYaSbT8xWI/ST5Tn02kKoI/AAAAAAAACJs/1lf0cH7Cfa4/s1600-h/080506_CB_OpecEX.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 310px; height: 320px;" src="http://4.bp.blogspot.com/_YqYaSbT8xWI/ST5Tn02kKoI/AAAAAAAACJs/1lf0cH7Cfa4/s320/080506_CB_OpecEX.jpg" alt="" id="BLOGGER_PHOTO_ID_5277747756992309890" border="0" /></a><br />In Asia, oil price steadied at below $44 as investors are expecting possible cuts from <a href="http://http//www.marketwatch.com/news/story/Oil-rallies-7-possible-OPEC/story.aspx?guid=%7BFFD71649-3EF8-42B0-AAF7-CE038A3F9443%7D">OPEC</a> which is also expected to be announced next week.<br /><br /><br /><p>OPEC will have to adhere to any promised output cut if it hopes to help reverse the fall in oil prices, said Victor Shum, an energy analyst with Purvin &amp; Gertz in Singapore.</p><p>"I think OPEC will need to make a cut of at least 2 million barrels a day," Shum said. "I think pricing going down to $40 last week will galvanize OPEC to make a substantial cut and comply better with their targets."</p><p><a href="http://http//www.google.com/hostednews/ap/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD94V33SG0">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-5825039582492191133?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-76446368852774536232008-12-07T22:34:00.000-08:002008-12-07T23:21:36.127-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_YqYaSbT8xWI/STzK9kM2CLI/AAAAAAAACJE/6WrjttyzrWA/s1600-h/oil_price_hike.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 314px; height: 320px;" src="http://3.bp.blogspot.com/_YqYaSbT8xWI/STzK9kM2CLI/AAAAAAAACJE/6WrjttyzrWA/s320/oil_price_hike.jpg" alt="" id="BLOGGER_PHOTO_ID_5277316022409758898" border="0" /></a><br /><a href="http://http//www.bworldonline.com/BW120508/content.php?id=002">Oil fell</a> 25 percent last week, the biggest weekly decline since the Persian Gulf war of 1991, as recession deepened in the U.S., Europe and Japan.<br /><br /><br /><p>OPEC pumps about 40 percent of the world’s oil and cut daily output 1.5 million barrels in October as prices slumped and <a href="http://www.bloomberg.com/apps/quote?ticker=DOESCRUD%3AIND" onmouseover="return escape( popwQuoteShort( this, 'DOESCRUD:IND' ))">inventories</a> rose. </p> <p>“If you were to take 2 million barrels a day out of the market it will have an impact,” said <a href="http://search.bloomberg.com/search?q=Gerard+Burg&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1" onmouseover="return escape( popwSearchNews( this ))">Gerard Burg</a>, minerals and energy economist at National Australia Bank Ltd. in Melbourne. “It’s really a demand dominated market” now, and that will temper the influence any cut has on prices, he said. </p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-7644636885277453623?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-47918726782185135172008-11-16T21:10:00.000-08:002008-11-16T21:20:10.867-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_YqYaSbT8xWI/SSD_AZq8TZI/AAAAAAAACIc/J4o3b-8_H8k/s1600-h/oil+production+cut.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 206px;" src="http://4.bp.blogspot.com/_YqYaSbT8xWI/SSD_AZq8TZI/AAAAAAAACIc/J4o3b-8_H8k/s320/oil+production+cut.jpg" alt="" id="BLOGGER_PHOTO_ID_5269491946379562386" border="0" /></a><br />Despite <a href="http://http//www.commodityonline.com/futures-trading/technical/Oil-prices-are-in-downtrend;-OPEC-nervous-7132.html">OPEC </a>well-planned oil production cut to regulate the oil price in the international market, <a href="http://http//www.google.com/hostednews/canadianpress/article/ALeqM5iz0CLDAFNVyn6VFvOwSl0vS5oPBQ">oil price </a>continued to fall as it recently hits below $56 per barrel on Asian oil markets' trading.<br /><br /><br /><p> On Friday, European Union data showed that the 15-nation eurozone fell into recession for the first time ever, while government figures the same day from Hong Kong showed the southern Chinese financial hub had also slipped into recession. </p> Oil prices have continued lower despite Opec's decision on October 24 to reduce production by 1.5 million barrels a day.<br /><a href="http://http//www.straitstimes.com/Breaking%2BNews/Money/Story/STIStory_303320.html"><br />more...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-4791872678218513517?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-2579103455542632542008-11-13T20:27:00.000-08:002008-11-13T20:46:02.604-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SR0Cdb7sfPI/AAAAAAAACH0/L9zwg6VFoEg/s1600-h/Opec+meeting.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 215px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SR0Cdb7sfPI/AAAAAAAACH0/L9zwg6VFoEg/s320/Opec+meeting.jpg" alt="" id="BLOGGER_PHOTO_ID_5268369843830947058" border="0" /></a><br />On November 29, OPEC estates will meet in Cairo Egypt for a <a href="http://http//news.xinhuanet.com/english/2008-11/14/content_10357444.htm">consultation meeting</a> on the oil market as the oil price in the international market continue to slide, an official from Iran said.<br /><br /><br /><br />OPEC President Chakib Khelil said on Wednesday OPEC may cut output again if<a href="http://http//www.independent.co.uk/news/business/news/forecast-for-oil-price-slashed-by-iea-1017967.html"> oil prices </a>fell further and added non-Arab oil producers could be invited to the Organization of Arab Petroleum Exporting Countries (OAPEC) meeting.<p class="textBodyBlack"><span id="byLine"></span>OAPEC, which includes Arab states who are also members of OPEC but not non-Arabs like Iran or Venezuela, was due to meet on Nov. 29 in Cairo.</p><p class="textBodyBlack"><a href="http://http//www.cnbc.com/id/27697348">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-257910345554263254?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-36995671449963788522008-11-12T17:16:00.000-08:002008-11-12T18:15:17.608-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_YqYaSbT8xWI/SRuNjN5ygQI/AAAAAAAACHM/F0Z6NIUXO4s/s1600-h/oil+price.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 230px; height: 320px;" src="http://4.bp.blogspot.com/_YqYaSbT8xWI/SRuNjN5ygQI/AAAAAAAACHM/F0Z6NIUXO4s/s320/oil+price.jpg" alt="" id="BLOGGER_PHOTO_ID_5267959825306910978" border="0" /></a><br /><a href="http://http//www.theaustralian.news.com.au/story/0,24897,24644887-643,00.html">Oil price</a> finished at $56.16 per barrel as it closed on Wednesday trading. The new record hits oil price at 22 month low. <a href="http://http//business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article5141799.ece">Oil traders</a> are getting worried about the slipping demand for energy despite implementation of<a href="http://http//www.guardian.co.uk/business/feedarticle/8017897"> OPEC</a> oil production cuts.<br /><br /><br /><p>The International Energy Agency warned that dwindling crude reserves were pivotal to prices.</p><p>"The key determinant in the years to come is the oilfield decline more than demand," IEA chief economist Fatih Birol told a news conference in London at which he unveiled the agency's latest World Energy Outlook report.<br /></p><p><a href="http://http//afp.google.com/article/ALeqM5hjQRosWBQV8t_qkwwmWTKPlUzubQ">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-3699567144996378852?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-23735615111343090172008-11-11T16:46:00.000-08:002008-11-11T17:13:28.681-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SRotlxddQrI/AAAAAAAACGk/sjR9f26hme4/s1600-h/Qatar+oil+minister.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 233px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SRotlxddQrI/AAAAAAAACGk/sjR9f26hme4/s320/Qatar+oil+minister.jpg" alt="" id="BLOGGER_PHOTO_ID_5267572841118515890" border="0" /></a><br />The<a href="http://http//www.guardian.co.uk/business/feedarticle/8008167"> Qatar Oil Minister</a> demanded on Monday that <a href="http://http//www.thenational.ae/article/20081111/BUSINESS/692762200/-1/NEWS">oil price </a>must stay above $70 per barrel to avoid future crisis in supply and to encourage more oil investments.<br /><br /><br />Qatar is one of OPEC's smallest producers and pumped around 860,000 bpd in October, according to a Reuters survey.<p class="textBodyBlack"><span id="byLine"></span>Attiyah said earlier this month that Qatar had cut crude oil exports to Asia by about 40,000 bpd from November, in line with OPEC's agreement to curb output.</p><p class="textBodyBlack"><a href="http://http//www.cnbc.com/id/27640313">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-2373561511134309017?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-81152096058761668492008-11-10T17:23:00.001-08:002008-11-10T17:36:12.103-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/_YqYaSbT8xWI/SRjhViJpRHI/AAAAAAAACF8/jRmDFjb8ksQ/s1600-h/opec.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 214px;" src="http://2.bp.blogspot.com/_YqYaSbT8xWI/SRjhViJpRHI/AAAAAAAACF8/jRmDFjb8ksQ/s320/opec.jpg" alt="" id="BLOGGER_PHOTO_ID_5267207524270556274" border="0" /></a><br /><a href="http://http//www.ft.com/cms/s/0/9fc6447a-af29-11dd-a4bf-000077b07658.html">China's massive stimulus plan </a>package has something to do with the <a href="http://http//ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD94C9O3G1">oil price </a>increase. It has made oil price jumped a $2 increase, making it near to $64 per barrel. The OPEC refusal to ruled out further oil cuts on its output has also contributed to this increase.<br /><br /><br /><span id="ctl00_ContentPlaceHolder1_lblBody" style=";font-family:Verdana;font-size:10;" ><span style="font-size:85%;">Secretary General of the <a href="http://http//www.mondaq.com/article.asp?articleid=69320">Organization of the Petroleum Exporting Countries </a>(OPEC), Chakib Khelil, said on Sunday that the 13-member body would cut production should oil prices remain below the organization's preferred range of $70 to $90 a barrel.<br /><br />The International Energy Agency (IEA) in its latest report, <i>World Energy Outlook</i>, has hiked its long-term forecast for the price of a barrel of oil in 2030 to just over $200 in nominal terms, compared to last year's estimate of $108 a barrel.<br /></span><br /><span style="font-size:85%;"><a href="http://http//www.presstv.ir/detail.aspx?id=74909&amp;sectionid=3510213">more...</a></span><br /></span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-8115209605876166849?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-67055893056637587872008-11-09T18:38:00.000-08:002008-11-09T19:05:13.506-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SRekxWpis3I/AAAAAAAACFU/VeRuomm1uVg/s1600-h/oil-production-45.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 240px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SRekxWpis3I/AAAAAAAACFU/VeRuomm1uVg/s320/oil-production-45.jpg" alt="" id="BLOGGER_PHOTO_ID_5266859457033450354" border="0" /></a><br />The October oil output of<a href="http://http//www.guardian.co.uk/business/feedarticle/8005028"> OPEC </a>has declined tremendously according to a survey conducted by Platts. It has dropped to 210,000 barrel per day from its September record of 32.42 million per barrels per day. The October output has reached only to 32.26 million per barrels per day.<br /><br /><br /><p>One industry participant in the survey suggested that Saudi Arabia, rather than make a deep cut, was aiming to reduce supply to particular customers that might more readily accept reduced volumes than others. </p><p>UAE output fell by 80,000 b/d to 2.55 million b/d, largely the result of maintenance that will stretch through November. Iranian output also fell by 80,000 b/d, to 3.9 million b/d. Other smaller drops came from Algeria, Kuwait, Qatar, Venezuela and Indonesia.<br /></p><p><a href="http://http//www.foxbusiness.com/story/markets/industries/media/platts-survey-october-opec-oil-output-dropped--mil-barrels-day-389981520/">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-6705589305663758787?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-88708127802620946652008-11-06T17:02:00.000-08:002008-11-06T17:18:02.082-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_YqYaSbT8xWI/SROXQbb4YhI/AAAAAAAACEs/ZmP4QpGlHFw/s1600-h/recession.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 240px;" src="http://3.bp.blogspot.com/_YqYaSbT8xWI/SROXQbb4YhI/AAAAAAAACEs/ZmP4QpGlHFw/s320/recession.jpg" alt="" id="BLOGGER_PHOTO_ID_5265718697824641554" border="0" /></a><br />On Thursday, <a href="http://http//www.theaustralian.news.com.au/business/story/0,28124,24615294-20142,00.html">oil price </a>closed near $60 per barrel, the lowest ever since 19 months. The low oil price record was coupled with the reports of possible long and painful <a href="http://http//www.economist.com/world/unitedstates/displaystory.cfm?story_id=12573630">recession.</a><br /><br /><br /><p>In other Nymex trading, gasoline futures fell 8.8 cents to settle at $1.336 a gallon. Heating oil dropped 11 cents to settle at $1.942 a gallon while natural gas for December delivery fell 27 cents to setttle at $6.979 per 1,000 cubic feet.</p><p>In London, December Brent crude fell $4.44 to settle at $57.43 on the ICE Futures exchange.<br /></p><p><a href="http://http//ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD949M0OG0">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-8870812780262094665?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-54674652845515806242008-11-04T12:25:00.000-08:002008-11-04T12:40:48.211-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_YqYaSbT8xWI/SRCzRzoVyXI/AAAAAAAACD0/gdlmLlNHksc/s1600-h/Oil-Production.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 226px;" src="http://3.bp.blogspot.com/_YqYaSbT8xWI/SRCzRzoVyXI/AAAAAAAACD0/gdlmLlNHksc/s320/Oil-Production.jpg" alt="" id="BLOGGER_PHOTO_ID_5264905082894666098" border="0" /></a><br /><a href="http://http//ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD9488P7O0">Election day oil trading</a> posted a new leap in the oil prices as it surged 11 percent. now the oil price is at near $72 per barrel. US election or OPEC's <a href="http://http//business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article5083591.ece">oil production cut </a>is believed to have something to do with the surging price.<br /><br /><span class="body"><span class="article_14">Industry analysts say the 11 percent increase is due, in part, to the weakening dollar, which had the biggest one-day drop against they euro since the common currency was introduced in 1999. They also say oil prices appear to be mirroring the major U.S. stock indexes, which are sharply higher Tuesday as Americans elect a new president.</span><span class="article_14"><br /></span><span class="article_14"><br /></span><span class="article_14">Concerns that the faltering economy would cut energy demand, had sent oil prices plunging more than 50 percent since they peaked above $147 a barrel in July.<br /><a href="http://http//www.voanews.com/english/2008-11-04-voa49.cfm"><br />more...</a><br /></span></span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-5467465284551580624?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-8437593070756685932008-11-02T14:05:00.000-08:002008-11-02T14:17:58.657-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_YqYaSbT8xWI/SQ4m4sPMDiI/AAAAAAAACDE/C3DOBR2GpQ0/s1600-h/OPEC.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 212px;" src="http://3.bp.blogspot.com/_YqYaSbT8xWI/SQ4m4sPMDiI/AAAAAAAACDE/C3DOBR2GpQ0/s320/OPEC.jpg" alt="" id="BLOGGER_PHOTO_ID_5264187769832082978" border="0" /></a><br />If <a href="http://http//www.guardian.co.uk/business/feedarticle/7974639">OPEC members</a> want a stable and <a href="http://http//news.theage.com.au/business/fair-oil-price-us70-to-us90-a-barrel-20081103-5gel.html">fair oil price </a>between $70-$90 per barrel in the international oil market, OPEC members have no choice but to agree and implement output cuts and further advise the customers of the reductions, according to OPEC top official.<br /><br /><p><span style="font-family:Verdana;font-size:85%;color:#000000;">The <a href="http://http//news.bbc.co.uk/2/hi/business/7704786.stm">Organisation of Petroleum Exporting Countries</a> decided at a meeting in Vienna on October 24 to chop production by 1.5 million barrels per day or about 5 per cent from November 1 to halt a more than 50 per cent slide in prices.</span></p> <p><span style="font-family:Verdana;font-size:85%;color:#000000;">Traders are now looking for evidence that they are making good on that promise. A key signal would be Gulf suppliers sending word to Asian refiners that volumes will be reduced.</span></p><p><span style="font-family:Verdana;font-size:85%;color:#000000;"><a href="http://http//www.gulfnews.com/business/Oil_and_Gas/10256609.html">more...</a><br /></span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-843759307075668593?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-34753261241595205092008-10-30T19:20:00.000-07:002008-10-30T19:34:16.939-07:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SQpueb8zNWI/AAAAAAAACCU/b4gCBptaBs8/s1600-h/oil.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 240px; height: 200px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SQpueb8zNWI/AAAAAAAACCU/b4gCBptaBs8/s320/oil.jpg" alt="" id="BLOGGER_PHOTO_ID_5263140583713748322" border="0" /></a><br /><a href="http://http//www.channelnewsasia.com/stories/afp_world_business/view/386631/1/.html">Oil prices </a>retreated again and hit $65.96 per barrel Thursday on the New york Mercantile Exchange. The falling of oil prices has deepened by the <a href="http://http//www.theaustralian.news.com.au/business/story/0,28124,24580020-20142,00.html">global economic slowdown</a> which is believe to pull down the demand for energy.<br /><br /><p>When the greenback loses value, that pushes oil prices higher, attracting foreign buyers and investors looking to hedge against inflation. When the dollar gains against other currencies, that pushes oil prices lower. </p><p>On Tuesday, however, oil settled at $62.73 a barrel, its lowest level in 17 months. Crude futures hit an all-time high of $147.27 a barrel on July 11. Oil prices sank more than 55% off summer-high prices as the global economic slowdown has cut into demand for energy.<br /></p><p><a href="http://http//money.cnn.com/2008/10/30/markets/oil/?postversion=2008103015">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-3475326124159520509?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-58515526738104968932008-10-29T19:26:00.000-07:002008-10-29T19:38:20.353-07:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_YqYaSbT8xWI/SQkd6DbkMmI/AAAAAAAACBs/eS3IAeBull8/s1600-h/oil.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 320px; height: 236px;" src="http://4.bp.blogspot.com/_YqYaSbT8xWI/SQkd6DbkMmI/AAAAAAAACBs/eS3IAeBull8/s320/oil.jpg" alt="" id="BLOGGER_PHOTO_ID_5262770522749678178" border="0" /></a><br />As the global equities surged due to the effect of the<a href="http://http://www.thisdayonline.com/nview.php?id=126589"> OPEC</a>'s action to cut oil production, crude oil price in the international oil market rose of the first time with possible central bank interest rate cuts may help revive demand.<br /><br /><br /><p>The producer group reduced its production target by 1.5 million barrels a day after meeting Oct. 24. Ramirez said the group would analyze the reaction of the oil market between that cut and a planned Dec. 17 meeting. </p> <p>``OPEC has to say that if demand and the oil price are still weak then they will look for more cuts,'' said <a href="http://search.bloomberg.com/search?q=Andy%0ASommer&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1" onmouseover="return escape( popwSearchNews( this ))">Andy Sommer</a>, an analyst with HSH Nordbank in Hamburg. ``That is not really a surprise.''<br /></p><p><a href="http://http//www.bloomberg.com/apps/news?pid=20601102&amp;sid=aq6D43ElzSn0&amp;refer=uk">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-5851552673810496893?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0tag:blogger.com,1999:blog-5085552555535532148.post-54585170489463419702008-10-28T15:21:00.001-07:002008-10-28T15:37:00.931-07:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_YqYaSbT8xWI/SQeT2QQ2jmI/AAAAAAAACA8/JMXRFDjr8Uk/s1600-h/oil.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer; width: 300px; height: 300px;" src="http://1.bp.blogspot.com/_YqYaSbT8xWI/SQeT2QQ2jmI/AAAAAAAACA8/JMXRFDjr8Uk/s320/oil.jpg" alt="" id="BLOGGER_PHOTO_ID_5262337249893584482" border="0" /></a><br /><a href="http://http//www.guardian.co.uk/business/feedarticle/7944191">OPEC</a> has made its efforts to stabilize the current price of oil in the international market, as it planned to further cut outputs. Yet, the oil price continued to fall and even hit <a href="http://http//afp.google.com/article/ALeqM5h_rJ-Jvt_l1VMvi1Bj6Px3BeSb-Q">the lowest record</a> ever for since May 2007. The prevailing price is now at <a href="http://http//money.cnn.com/2008/10/28/markets/oil/?postversion=2008102815">17 month low </a>according to reports.<br /><br /><br /><p>OPEC warned overnight it could cut output again if prices keep falling despite an output reduction agreed at an emergency meeting in Vienna last week.</p> <p>Gold for December delivery dropped $US2.40 to close at $US740.50 on the New York Mercantile Exchange.</p> <p>December silver lost 40.5 cents to close at US$8.79 an ounce on the Nymex, while December copper rose 5.35 cents to close at US$1.8585 a pound.</p><p><a href="http://http//news.theage.com.au/business/oil-prices-continue-to-fall-20081029-5aq7.html">more...</a><br /></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/5085552555535532148-5458517048946341970?l=www.activeenergytraders.com'/></div>Traderhttp://www.blogger.com/profile/13309761269649139032noreply@blogger.com0