ΕιδήσειςΕυρωπαϊκές Ειδήσεις Price of OPEC Oil Falls For First Time Since 2010 dj Πεμ, 16 Ιανουαρίου 2014 - 18:19
The price that some of world's biggest oil producers charge for their oil fell last year for the first time since 2010, the Organization of the Petroleum Exporting Countries said Thursday. Surging oil production in the U.S. as a result of the country's shale oil bonanza and sluggish global demand growth helped ease oil prices last year, despite political upheaval in several Middle Eastern and North African countries that threatened stable oil supply. The value of OPEC's benchmark reference basket fell 3% last year compared with 2012, when it rose to a record $109.45 a barrel, the producer group said in its monthly oil market report. The decline broke a three-year streak of consecutive year-on-year gains, but was in line with broader moves in the market. This year, the cartel, whose members are heavily reliant on oil revenues, may face deeper price pressure as demand growth is expected to remain weak and supply additions elsewhere are already dampening appetite for OPEC barrels. OPEC, a group of some of the world's largest oil producers, estimated that demand for its oil fell by half a million barrels a day last year to 29.9 million barrels a day and expects it to decline by a further 400,000 barrels a day in 2014. The situation raises a difficult question for OPEC over whether the group should curtail its own production to maintain prices. The prospect of significant increases in supply could make this issue pressing later in the year. Political turmoil in Libya saw the country's oil exports dwindle at the end of last year, but some export terminal reopened in January. Iraq is also hoping to achieve and ambitious increase in oil exports in 2014, and a thaw in relations between Iran and Western powers could see Iranian barrels returning to the market as early as the second half of the year. In a note published Wednesday, Bank of America Merrill Lynch said that if supply from both Libya and Iran were to normalize at the same time it "could lead to meaningful downside pressure on prices." Indeed, even if Saudi Arabia were to reduce its output substantially this year, Merrill Lynch said that a positive supply shock of 1.5 million barrels a day of oil from Libya and Iran could still push the price of Brent crude down to average $95 a barrel this year, compared with the bank's current price forecast of $105 a barrel. Διαβάστε ακόμα EXX: Οι Εγγυήσεις Προέλευσης βασική συνιστώσα της Ενεργειακής Μετάβασης Δευ, 26 Αυγούστου 2024 - 10:01 Η Πτώση των Πωλήσεων των Αμιγώς Ηλεκτρικών Αυτοκινήτων Αλλάζει τα Σχέδια των Αυτοκινητοβιομηχανιών Δευ, 26 Αυγούστου 2024 - 09:53 ΕΕ: Έρχονται τα Νέα Canadair Σαβ, 24 Αυγούστου 2024 - 13:00 Ανάσα για την Αγορά Ηλεκτρικής Ενέργειας Καθώς Υποχωρούν οι Τιμές Αερίου και Βελτιώνονται οι Καιρικές Συνθήκες Σαβ, 24 Αυγούστου 2024 - 12:30 Φιλανδία: Προσφυγή ΜΚΟ κατά της Κυβέρνησης για "Κλιματική Αδράνεια" Παρ, 23 Αυγούστου 2024 - 18:00
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