Aug 31
Paris-based Agency sees 2010 Global Oil Demand at 1.8 Million Bpd
Jul 12
In its Short-term Energy Outlook released on July 7, the Energy Information Administration adjusted slightly higher its price expectations for both retail gasoline and diesel fuel, with the increases based on a stronger sentiment for its crude oil price projection.
"EIA's view of the world oil market is largely unchanged from recent Outlooks. EIA forecasts that world oil prices will rise slowly as an expected renewal of global economic growth leads to higher world oil demand and members of the Organization of Petroleum Exporting Countries continue their support of prices near current levels," the agency said.
Jun 28
United States District Court for the Eastern District of Louisiana Judge Martin Feldman on June 24 denied a request by the federal government to stay a preliminary injunction issued earlier that week that prohibits the Obama administration from enforcing a six-month deepwater drilling moratorium. According to the court documents, the "defendants' motion to stay pending appeal is hereby denied for the same reasons given" in the June 22 order.
Jun 15
In June's Short-term Energy Outlook released on June 8, the Energy Information Administration revised lower its 2010 price expectations for retail gasoline and retail diesel fuel from its Outlook in May, saying the downside adjustments were made because of a lower price outlook for crude. EIA, the statistical arm of the Department of Energy, pressed down its price projection for West Texas Intermediate crude oil, the U.S. crude benchmark, this year due to economic uncertainty.
Jun 7
An email from a Minerals Management Service field operations supervisor for the Gulf of Mexico on June 3 saying that the agency had stopped issuing permits to drill in the Gulf regardless of water depth triggered a rally in crude and natural gas futures trading on the New York Mercantile Exchange.
"This came on the heels of a drilling moratorium [the previous] week, which applied to deeper waters," said Peter Beutel, president of New Canaan, Conn,-based risk management firm Cameron Hanover, in a note to clients. "It is estimated that the moratorium could cut about 350,000 bpd of oil and gas production by 2015. A ban on shallow water drilling, though, would have a deeper impact."
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