Peak Oil in the News

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Peak Oil News Thursday December 7th 2006

Peak Oil Theory Analyzed by CERA
(PR Web via Yahoo! News: Thu, 07 Dec) Cambridge, MA (PRWeb) December 7, 2006 - Peak Oil, the widely discussed theory that world oil production will soon reach a peak and go into sharp decline, is the subject of a new analysis by Cambridge Energy Research Associates (CERA).

Peak Oil Theory Analyzed by CERA
(PR Web: Thu, 07 Dec) "Peak Oil" the widely discussed theory that world oil production will soon reach a peak and go into sharp decline, is the subject of a new analysis by Cambridge Energy Research Associates (CERA). CERA finds that the remaining global oil resource base is actually 3.74 trillion barrels - three times as large as the 1.2 trillion barrels estimated by the theory's proponents. (PRWeb Dec 7, 2006) Post

Crude oil price to average at $55-65 next year: energy minister
(The Nation: Thu, 07 Dec) Energy Minister Piyasvasti Amranand estimated that next year, crude oil price would average US$55-$65 per barrel from this year's peak of over $75. Meanwhile, domestic retail prices would stand between Bt24-Bt25 per litre, provided oil exporting countries do not cut production capacity or increase the capacity.

Oil above $62, supported by OPEC
(Reuters via Yahoo! Canada News: Thu, 07 Dec) Oil was steady above $62 a barrel on Thursday, caught in a trading range that has held almost continuously since late September.

Oil Is Little Changed After Falling on Refining Jump, Weather
(Bloomberg.com: Thu, 07 Dec) Dec. 7 (Bloomberg) - Crude oil was little changed in New York after falling yesterday on signs increased refining activity and mild temperatures will ensure U.S. winter fuel supplies.

UPDATE 7-Oil steadies near $62, eyeing weather and OPEC
(The Forex Market: Thu, 07 Dec) LONDON, Dec 7 (Reuters) - Oil steadied around $62 a barrel on Thursday, pressured by expectations of milder weather in top consumer the United States and ample fuel stockpiles.

UPDATE 6-Oil eases below $62, eyeing weather and OPEC
(The Forex Market: Thu, 07 Dec) LONDON, Dec 7 (Reuters) - Oil eased below $62 a barrel on Thursday, pressured by expectations of milder weather in top consumer the United States and ample fuel stockpiles.

UPDATE 5-Oil above $62, supported by OPEC
(The Forex Market: Thu, 07 Dec) LONDON, Dec 7 (Reuters) - Oil was steady above $62 a barrel on Thursday, supported by the prospect that OPEC will cut supply for a second time in two months at a meeting next week.

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