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Jan 17, 2009

OIL NEWS * USA - Closes Week Below $37 a Barrel

New York,NY,USA -Bloomberg/Transport Topics -16 Jan 2009: -- Crude oil rose more than $1 Friday but closed the week below $37 a barrel, reported... The price has dropped almost $10 this month and is more than $100 below its all-time record Nymex closing price of $145.18 a barrel, set last July 14, according to Bloomberg figures... Oil futures for February delivery rose $1.16, on the Nymex to close at $36.56... The February futures contract ends Tuesday... Futures fell in January in part because the International Energy Agency said that global demand will decline for a second year, the first back-to-back contraction since 1983... (Photo by Tom Biery/Trans Pixs)


* EIA projects oil consumption to be steady, prices to rise by 2010

USA -Fleet Owner, by Justin Carretta -Jan 6, 2009: -- According to the early release of the Energy Information Administration’s (EIA) Annual Energy Outlook 2009 (AEO2009), the latest projections expect virtually no growth in U.S. oil consumption for the first time in more than 20 years... EIA said that the combination of recently enacted CAFE standards, requirements for increased use of renewable fuels, and an assumed rebound in oil prices as the world economy recovers will reduce oil consumption... U.S. net dependence on imported liquids will decline dramatically over the next 20 years as the use of biofuels is expected to grow...

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