Oil Prices To Remain At Current Levels: Bankers

Monday, November 08, 1999
Central bankers meeting at the Bank for International Settlements reportedly expect world oil prices to remain around current levels, starting that higher prices are not in producers' interests. Oil prices, which had doubled since producers inside and outside the Organization of Petroleum Exporting Countries agreed in March to cut two million barrels from daily output, came under selling pressure in recent weeks on perceptions that some producers were easing restraints. Benchmark Brent futures hit their highest level in three years in September, at $24.30. Brent for December delivery was trading around $22.73 on Monday.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

DryShips Sells Six Aframax Tankers

Dry bulk and petroleum cargo shipper DryShips Inc., through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore contract drilling oil services, announced

Shipping Confidence at 7-year Low -Survey

Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years,

Pirates and Hold-ups: Crime Strikes Venezuela's Oil Industry

When night falls over western Venezuela, armed gangs known as "pirates" sometimes ride boats into muggy Lake Maracaibo to steal equipment from oil wells.   In the country's Paraguana peninsula,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1786 sec (6 req/sec)