Monthly Archives: June 2011
The announcement of the release of emergency stock piles by the IEA caused Brent crude prices to go upward at $108 per barrel. US crude oil too reached at $91.97 per barrel.
According to a report released by International Energy Agency, the global energy watchdog, world consumers will rely heavily on North and South America, in the coming years to quench their thirst for crude oil.
The Organization of the Petroleum Exporting Countries (OPEC) members are scheduled to meet on 8 June next week in Vienna. The cartel has decided to raise the supply of oil by as much as 1.5 million barrels per day (bdp). … Continue reading