Building a world of
resilient communities.

MAIN LIST

 

IEA expects world oil prices to decline further

NEW YORK, November 10 (newratings.com) – Crude oil prices declined to below the $47 per barrel mark today on expectations of continued rise in the US oil and natural gas inventories.

The International Energy Agency (IEA) said in its monthly Oil Market Report released today that world oil prices might have peaked during the recent record high levels. The report said that the oil markets should continue to ease heading into and out of the upcoming winter season, barring any significant unforeseen developments. The IEA said that the growing global supplies and signs of elevated energy costs adversely impacting the economic growth indicate that the oil prices are unlikely to resume their upward rally. According to the IEA report, the worldwide oil supplies increased by 890,000 barrels per day to a record 84.6 million barrels per day in October this year. The IEA said that its global oil demand forecasts remain broadly unchanged at 82.4 million barrels per day for 2004 and 83.8 million barrels per day for 2005.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

The Great Burning   

What will we do when the Great Burning comes to an end?

The Renewable Revolution

Don’t hold your breath, but future historians may look back on 2015 as …

Peak Oil Notes - Apr 16

Oil prices surged this week.

Putting the Real Story of Energy and the Economy Together

 What is the real story of energy and the economy? We hear two …

Fracking Increases Radon Gas Hazard, US Study Finds

Another major U.S. health study has found that the hydraulic fracking of …

How Conservative Texas Took The Lead in U.S. Wind Power

Innovative government policies have helped propel Texas into the forefront …

The Collapse phenomenon

Michael Ruppert's last book, first starring film role and ascendancy to the …