Wednesday, February 11, 2009

IEA Cuts Demand Forecast and Saudi Arabia Doubles Spare Capacity


"Big Oil Leaders Bet on Long Term Energy Growth"
Touting an optimistic message, some Big Oil executives insist that long-term growth in energy demand remains unchanged....Complete Story

"Nigerian Oil Workers Mull Full Scale, Nationwide Strike"
Two main oil workers' unions are insisting on a full scale, nationwide strike against insecurity in the Niger Delta....Complete Story

"IEA Cuts 2009 Oil Demand Forecast on Recession, Sees 1 Million-Barrel Drop"
The International Energy Agency cut its global oil demand forecast for 2009, projecting consumption will decline by 1 million barrels a day as the worldwide recession deepens, the biggest drop since 1982....Complete Story

"Saudi Arabia to More Than Double Spare Capacity by Mid-Year"
Al-Naimi Says Saudi Arabia, the world’s largest oil exporter, will more than double its spare capacity by the middle of the year to 4.5 million barrels a day as it brings....Complete Story

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