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khaleejtimes.com - 5/25/2009

Business : Saudi warns of new oil spike without investment

— khaleejtimes.com — ROME - Oil prices could spike to beyond the near $150 record high of 2008 within two... to three years unless the industry invests in new projects to expand capacity, Saudi Arabian Oil Minister Ali al-Naimi said on Monday. The influential minister of the ... (more) Business : Saudi warns of new oil spike without investment

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online.wsj.com - 5/21/2009

Russia Sees Gloom Despite Rise in Oil

— online.wsj.com — MOSCOW -- Gloomy news about Russia's economy -- figures on Monday showed April industrial production plunged 17%... year-on-year -- has been mixed with some rare positives in recent weeks. Oil prices are surging, the ruble is up and Russian stocks have ... (more) Russia Sees Gloom Despite Rise in Oil

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seekingalpha.com - 5/25/2009

Can Oil Go Even Higher? -

— seekingalpha.com — In a recent article published in the CFA Institute Conference Proceedings Quarterly, Mohamed A El-Erian, CEO of... PIMCO, states that traditional risk management is too heavily dependent on historical correlations and value-at-risk assessments. Today, a ... (more) Can Oil Go Even Higher? -

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Lunch Wrap
FT Alphaville — ... content Lunch Wrap Posted by Tracy Alloway on May 27 12:19. On FT Alphaville Wednesday morning, - Anti-market banking . - Variable vibrations at Nationwide . - Europe’s hedge fund fifty . - Bradford & Bingley , the delinquent bank. - A ‘brain crush’ on David Rosenberg . - The race for RBS’s Asian assets . - BT bonds and Misys management in Markets Live . On FT.com, - Voser unveils Shell shake-up . - Saudi minister sees oil demand rising . - Sterling hits $1.60 versus the dollar. - Nationwide ...

Ahead of OPEC meeting, Saudi minister sees oil prices rising
BloggingStocks — ... sitting in supertankers offshore. Now Saudi oil minister Ali Naimi says that higher consumption in China is driving up prices. He further states that the world economy has recovered enough to sustain $75 to $80 per barrel oil. Is some of this just hype ahead of tomorrow's OPEC meeting? ...

OPEC To Maintain Production Levels At Thursday’s Meeting
Daily Markets — ... more than 80% to a four-year low of $32.70 a barrel in February. To combat the sharp decline in prices, OPEC has lowered its production quotas by 4.2 million barrels per day (bpd) - about 5% of global demand - since September. Since February, oil prices have recovered, climbing to their current level above $60 a barrel. But both Naimi and industry analysts have warned that the rally has more to do with market sentiment and the potential for a recovery than it does fundamentals.“ The price rise is a function of optimism that better things are coming in the future ,” Naimi told ...