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Latest Price of petroleum Stories

2012-06-20 22:20:20

DUBAI, UAE, June 21, 2012 /PRNewswire/ -- DME (Dubai Mercantile Exchange) the Middle East's leading energy futures exchange and home to the emerging benchmark for crude oil pricing for the East of Suez markets, has today announced the appointment of former BNP Paribas Head of Marketing for Commodity Futures APAC, Christopher Fix, as Chief Executive Officer. Christopher joins the Exchange after more than 20 years in the international commodity markets, having worked with...

2012-06-08 10:20:42

LONDON, June 8, 2012 /PRNewswire/ -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose 40,000 barrels per day (b/d) to 31.75 million b/d in May, a Platts survey of OPEC and oil industry officials and analysts showed June 8. The May production marks a rise from April's output level of 31.71 million b/d and is the highest level since October 2008 when OPEC volumes averaged 32.26 million b/d. "The number that really matters is the jump from January to...

2012-06-04 10:20:45

HOUSTON, June 4, 2012 /PRNewswire/ -- Hyperdynamics Corporation (NYSE: HDY) announced today that President and Chief Executive Officer Ray Leonard will speak at the 2012 Symposium on Oil Supply and Demand: Studying the Wildcards, to be held June 19 at the Warwick New York Hotel. Leonard will speak on "The Oil Plateau" during an opening macro oil outlook panel and will also participate in a panel on the Russian oil supply outlook. This inaugural symposium will explore baseline forecasts for...

2012-06-01 14:21:25

HOUSTON, June 1, 2012 /PRNewswire/ -- As announced May 9, 2012, Platts today expanded its offering of price assessments for Canadian crude oils with the launch of an assessment for Western Canadian Select, one of North America's largest heavy crude oil streams, as injected free on board (FOB) at Cushing, Oklahoma, a major storage area and delivery point for key crude oil futures contracts. The new daily price assessment, known as the Platts Ex-Cushing Western Canadian Select (WCS), was...

2012-05-21 02:21:28

SINGAPORE, May 21, 2012 /PRNewswire/ -- China's apparent oil demand* in April edged up just 0.3% year on year to 38.32 million metric tons (mt), or an average 9.36 million barrels per day (b/d), a just-released Platts analysis of recent Chinese government data showed. This is the lowest year-on-year monthly growth in oil demand since June 2011, when it fell 8.2% to 9.02 million b/d, from a high base in the same month of the previous year. "This is just another sign of China's economic...

2012-05-16 02:23:32

HOUSTON, May 16, 2012 /PRNewswire/ -- Many energy executives expect the price-per-barrel of Brent crude oil to peak this year at levels significantly higher than today (currently $112 /bbl). In fact, 43 percent predict oil prices to exceed $141 per barrel, according to the results of the 10th annual energy executive survey conducted by the KPMG Global Energy Institute. More than two-thirds of the respondents to KPMG's survey say U.S. energy independence is not attainable...

2012-05-08 10:22:12

SAN DIEGO, May 8, 2012 /PRNewswire/ -- Energy Digital takes a close look into the civil unrest that is affecting oil prices at the pump, how the public is reacting to the energy and oil industry calamity, and advanced technologies that boast great energy-recycling potential The latest issue of Energy Digital is free online for business Executives in the energy industry. A lot is going on in the oil industry today-from Iran's threats to close the Strait of Hormuz to...

2012-05-08 06:25:21

WASHINGTON, May 8, 2012 /PRNewswire-USNewswire/ -- The public interest group Freedom Watch today filed a lawsuit in U.S. District Court for the District of Columbia charging the Organization of Petroleum Exporting Countries ("OPEC") with illegal price fixing and market division by artificially inflating crude oil prices. The 12 countries that constitute OPEC specifically and intentionally limit barrels of oil that each country produces, which has caused price to reach...

2012-05-08 06:22:07

WASHINGTON, May 8, 2012 /PRNewswire-USNewswire/ -- The current oil boom is creating tremendous economic benefits for the nation, but unfortunately, it won't shield the United States from the price volatility that is inherent in the global oil market, according to a new report from business and former military leaders on the Energy Security Leadership Council (ESLC), a project of Securing America's Future Energy (SAFE). The ESLC report, "The New American Oil Boom: Implications for...

2012-05-03 06:21:56

LONDON, May 3, 2012 /PRNewswire/ -- Prices in the $3-trillion-plus global petrochemicals market took a slight downturn in April, averaging of $1,444 per metric ton (/mt). The April average price is down a mere $1 from the March average, according to the just-released monthly average of the Platts Global Petrochemical Index (PGPI), a benchmark basket of seven widely used petrochemicals. While the monthly average was largely static, on an end-of-day, end-of-month basis, the PGPI...