OPEC
September 3rd, 2010 at 10:38am
Under OPEC
Ecuador signs billion loan deal with China
* Four-year loan has 6 pct annual fixed interest rate
Read more on Reuters via Yahoo! Asia News
Venezuela hunger striker’s death angers Chavez foes
A Venezuelan farmer who died after a hunger strike to protest President Hugo Chavez’s land takeover policies was denied his own doctor and has become a symbol for the oppressed, his mourning family said.
Read more on Reuters via Yahoo! Canada News
Iran needs two weeks to load nuclear plant fuel
TEHRAN (AFP) – Iran will need two more weeks to complete the process of loading fuel into its Russian-built first nuclear power plant, atomic chief Ali Akbar Salehi said.
Read more on AFP via Yahoo! Canada News
By Oilism.com
September 2nd, 2010 at 02:38am
Under OPEC
Weeks still needed to fuel Iran’s nuclear plant
TEHRAN (AFP) – Iran will still need two more weeks to fully load the fuel in its Russian-built first nuclear power plant, a process which began 10 days ago, atomic chief Ali Akbar Salehi has said.
Read more on AFP via Yahoo! Canada News
Weeks still needed to fuel Iran’s nuclear plant
Iran will still need two more weeks to fully load the fuel in its Russian-built first nuclear power plant a process which began 10 days ago atomic chief Ali Akbar Salehi has said.
Read more on AFP via Yahoo! UK & Ireland News
Venezuelan hunger-striker dies after land protest
CARACAS (Reuters) – A Venezuelan farmer on hunger strike for months in a protest against President Hugo Chavez’s land nationalization policies died on Monday in a military hospital, his family said.
Read more on The Star
By Oilism.com
September 1st, 2010 at 10:38pm
Under OPEC
How to Trade Oil
There are many ways Investors can gain exposure to Oil ranging from Oil stocks, Exchange traded funds through to Futures contracts.
Crude oil is the raw material that is refined to produce gasoline, heating oil, diesel, jet fuel and many other petrochemicals
Capital Spreads offer exposure through spread betting on the price of the “West Texas Intermediate” (WTI) futures contract traded on the New York Mercantile Exchange (NYMEX) which is the most popular grade of crude oil that is traded.
What makes it move?
Geo-political Events
Whether it’s militants in Nigeria or Israel and Iran at each other’s throats any Geo-political tensions in any of the oil producing regions will play a great role in the price of crude as supply can be upset.
Here are the world biggest producers of Oil along with the size of the reserves and their market share.
Country
reserves (bbl)
Share
1 Saudi Arabia
267
19.66%
2 Canada
179
13.16%
3 Iran
138
10.20%
4 Iraq
115
8.47%
5 Kuwait
104
7.66%
6 United Arab Emirates
98
7.21%
7 Venezuela
87
6.41%
8 Russia
79
5.82%
9 Libya
41
3.05%
10 Nigeria
36
2.67%
1,144
84.31%
Production
42% of oil is produced by countries that belong to The Organization of the Petroleum Exporting Countries (OPEC) who are headquarted in Vienna.
According to its statutes, one of the principal goals is the determination of the best means for safeguarding the cartel’s interests, individually and collectively. It also pursues ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations.
OPEC attempt to control the price of oil by increasing and decreasing output from its members.
If they want the price to go higher they will cut output and if they want it lower they will increase output.
OPEC meetings and decisions can be found on the getdealing.com event calendar.
OPEC MEMBERS
Algeria Africa
Angola Africa
Ecuador South America
Iran Middle East
Iraq Middle East
Kuwait Middle East
Libya Africa
Nigeria Africa
Qatar Middle East
Saudi Arabia Middle East
United Arab Emirates Middle East
Venezuela South America
Global Growth Expectations.
The more the world economy grows the more demand there is for Oil which will drive prices higher. The less the world economy grows the less demand there is for oil sending prices lower. In recent year’s oil traders have started to pay particular attention to growth in China and India as these mainly manufacturing economies are heavily dependant on oil.
USD
Oil (like gold and other commodities) normally has an inverse relationship with the USD meaning when the USD weakens the oil price should move higher. If the USD falls then because oil is priced in $’s you will need more $’s to buy the same amount of oil.
Seasonal Demand.
Demand is generally highest during the summer and winter months. A very hot summer or very active driving season (for summer vacations) can increase the demand for crude oil and cause prices to move higher.
An extremely cold winter causes higher demand for heating oil, which is made from crude oil. This usually causes prices to move higher. Watch the weather in the Northeast, since it is the part of the country that predominately uses heating oil.
OIL Inventory Data
Every Wednesday afternoon the Energy Information Administration releases the US weekly oil and gas inventory figures which give an account of the stocks of oil and natural gas the U.S currently have in reserve. If the Inventory number is lower than the consensus estimate then the price of crude oil may rise and if it is higher then the price should fall but this is not always the case.
Oil Inventory data can be seen live on the event calendar in getdealing.com dealing room along with the consensus estimate.
Watch for oil production cuts or increases from OPEC
We are a free resource for spread betters providing REAL-TIME analysis, news and data in a clear format to give you the best chance of profiting from spread betting.
By Oilism.com
September 1st, 2010 at 06:40am
Under OPEC
How To Trade Oil
There are many ways Investors can gain exposure to Oil ranging from Oil stocks, Exchange traded funds through to Futures contracts.
Crude oil is the raw material that is refined to produce gasoline, heating oil, diesel, jet fuel and many other petrochemicals
What makes it move
Geo-political Events
Whether it’s militants in Nigeria or Israel and Iran at each other’s throats any Geo-political tensions in any of the oil producing regions will play a great role in the price of crude as supply can be upset.
Here are the world biggest producers of Oil along with the size of the reserves and their market share.
Country
reserves (bbl)
Share
1 Saudi Arabia
267
19.66%
2 Canada
179
13.16%
3 Iran
138
10.20%
4 Iraq
115
8.47%
5 Kuwait
104
7.66%
6 United Arab Emirates
98
7.21%
7 Venezuela
87
6.41%
8 Russia
79
5.82%
9 Libya
41
3.05%
10 Nigeria
36
2.67%
1,144
84.31%
Production
42% of oil is produced by countries that belong to The Organization of the Petroleum Exporting Countries (OPEC) who are headquarted in Vienna.
According to its statutes, one of the principal goals is the determination of the best means for safeguarding the cartel’s interests, individually and collectively.
It also pursues ways and means of ensuring the stabilization of prices in international
oil markets with a view to eliminating harmful and unnecessary fluctuations.
OPEC attempt to control the price of oil by increasing and decreasing output from its members.
If they want the price to go higher they will cut output and if they want it lower they will increase output.
OPEC meetings and decisions can be found on the getdealing.com event calendar.
OPEC MEMBERS
Algeria Africa
Angola Africa
Ecuador South America
Iran Middle East
Iraq Middle East
Kuwait Middle East
Libya Africa
Nigeria Africa
Qatar Middle East
Saudi Arabia Middle East
United Arab Emirates Middle East
Venezuela South America
Global Growth Expectations
The more the world economy grows the more demand there is for Oil which will drive prices higher. The less the world economy grows the less demand there is for oil sending prices lower. In recent year’s oil traders have started to pay particular attention to growth in China and India as these mainly manufacturing economies are heavily dependant on oil.
USD
Oil (like gold and other commodities) normally has an inverse relationship with the USD meaning when the USD weakens the oil price should move higher. If the USD falls then because oil is priced in $’s you will need more $’s to buy the same amount of oil.
Seasonal Demand
Demand is generally highest during the summer and winter months. A very hot summer or very active driving season (for summer vacations) can increase the demand for crude oil and cause prices to move higher.
An extremely cold winter causes higher demand for heating oil, which is made from crude oil. This usually causes prices to move higher. Watch the weather in the Northeast, since it is the part of the country that predominately uses heating oil.
OIL Inventory Data
Every Wednesday afternoon the Energy Information Administration releases the US weekly oil and gas inventory figures which give an account of the stocks of oil and natural gas the U.S currently have in reserve. If the Inventory number is lower than the consensus estimate then the price of crude oil may rise and if it is higher then the price should fall but this is not always the case.
Oil Inventory data can be seen live on the event calendar in getdealing.com dealing room along with the consensus estimate.
Watch for oil production cuts or increases from OPEC
We are a free resource for spread bettors providing REAL-TIME analysis, news and data in a format you can understand and act on.Trade 16 markets with limited risk
By Oilism.com
August 31st, 2010 at 10:39pm
Under OPEC
How World Events Can Affect Fuel Prices
There are many factors that affect the price you pay at the pump when you fill up your vehicle with gasoline. The price of fuel may fluctuate even if the price of crude oil remains constant. However, when crude oil prices change, the cost of gas at the pump is always affected. Seasonality, competition between local retail stations, domestic problems like pipeline outages, and world events are all big influencers that determine how much you are expected to shell out at the pump.
The reason why world events play such a huge role in determining the price of fuel is the fact that crude oil prices are dependent upon global supply and demand, which can change on a dime. The most influential aspect of this is an organization known as OPEC, or the Organization of Petroleum Exporting Countries. In an effort to keep fuel prices fairly level, OPEC has set an upper limit on crude oil production since its organization in 1960. With 40 percent of the world’s crude oil production—and more than two out of three crude oil reserves—under the control of OPEC, this organization clearly has a huge say on the prices of fuel across the globe.
An early example of world events affecting the price of gasoline took place in 1973, when the Arab oil embargo occurred. Angered at the U.S.’s assistance to Israel in helping push back Egyptian and Syrian forces, OPEC imposed an embargo on the U.S. and raised oil prices to its Western European allies by 70 percent, setting off a severe recession and limiting the amount of gasoline Americans had access to. Gasoline became very expensive and rare at a time when 85 percent of Americans drove to their place of employment. More recent world events involve OPEC’s crude oil production cuts and mayhem in countries that the world relies on for oil production.
Some may wonder why the oil refineries in the United States cannot be counted on to produce enough fuel for the country, or least a great proportion of what is needed. Unfortunately, the current petroleum infrastructure within the United States in regards to refineries and pipelines is adding to the lower production of fuel within the country. As world events such as those described above occur, limiting supply, the demand for gasoline is hardly decreasing. In fact, it seems to be on a constant incline, exerting continued pressured on the price of fuel. It is a simple case of supply and demand: when demand is fixed or increasing, a decrease in supply causes prices to rise.
Comdata helps companies in the transportation industry manage fuel costs with the use of Comdata’s fleet card services, negotiated fuel prices, and managed transportation regulatory compliance. Visit Comdata online today to learn how Comdata can help increase your company’s profitability.
By Oilism.com
Previous Posts