Local media reported that Congress has a clear advantage in exit polls in Haryana and Jammu and Kashmir
world56 minutes ago
Energy Information Agency (EIA) says downward price pressures would increase if the economic slowdown proves deeper or longer than expected, and if higher prices lead to lower consumption and lower demand for Opec crude than currently anticipated.
There is also a risk that any weakness in oil prices could be minimal or short-lived, especially if consumption growth exceeds current expectations or if oil production capacity expansion plans in either Opec or non-Opec nations turn out to be lower than expected.
In addition, Opec production behaviour that would lead to voluntary production cuts aimed at keeping inventories fairly tight would also limit downward price pressure, it says.
Consumption: Data indicates that global consumption rose by roughly 500,000 barrels per day (bbl/d) during the first half of 2008 compared with year-earlier levels, as a 1.3-million bbl/d rise in consumption outside of the OECD was partially countered by an 800,000 bbl/d drop in U.S. consumption compared with year-earlier levels.
The decline in U.S. consumption reflects a slower economic growth and the impact of high prices, which was the largest half-year consumption decline in volume terms in the last 26 years.
Total world oil consumption is expected to grow by a little over 1 million bbl/d during the second half of 2008 and by almost 1 million bbl/d in 2009 compared with year-earlier levels.
The projection for 2009 consumption is about 460,000 bbl/d lower than last month’s assessment, reflecting lower expectations for consumption in the US other OECD bloc.
Local media reported that Congress has a clear advantage in exit polls in Haryana and Jammu and Kashmir
world56 minutes ago
Double Olympic Gold Medalist Aims to Inspire the Next Generation of Sailors as she makes her debut for Mubadala Brazil SailGP Team
lifestyle57 minutes ago
The 33-year-old needs just 71 more to overhaul Cook's 12,472 Test runs for England
cricket1 hour ago
The rematch will take place on December 21 in Riyadh, Saudi Arabia, with the WBC, WBO and WBA titles on the line
sports1 hour ago
Masdar’s clean energy capacity rose from 20GW in 2022 to 31.5GW in 2023
business1 hour ago
Pakistan captain Shan Masood said they knew how to neutralise England's aggressive style
cricket1 hour ago
With this, the number of drug-related killings in Marseille has risen to 17 since the start of the year
europe1 hour ago
The soon-to-be-introduced personal wearable smart tracking device from Samsung is designed to be your constant companion for all things health and fitness
tech1 hour ago