Daily Archives: February 10, 2009

Kate Mackenzie

In London yesterday the Opec secretary general re-iterated comments made at Davos that oil prices are too low, that $60 to $80 a barrel rather than the current c.$40 prices are needed. Today’s low prices are discouraging investment which would store up problems for the future when demand picked up, he said.

The Gulf Times reported Mr El-Badri also said 35 of 150 drilling projects had been delayed because of falling prices. Read more

Kate Mackenzie

CERAWeek: Terry Hallmark of IHS forecasts $43 a barrel for 2009 (Houston Chronicle)

High winds slash Spain’s energy costs as wild weather hits southern Europe (GuardianRead more

Kate Mackenzie

- Crude rises as US stimulus package may lead to lower dollar (Bloomberg)

- El-badri says Opec should wait for 100% compliance before considering new measures (PlattsRead more

Kate Mackenzie

Energy news from the FT:

- BG’s bid turns up heat with rival Shell
Group makes A$796m offer for Pure Energy Read more