Peak Oil in the News

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Peak Oil News Monday December 11th 2006

Peak oil era will be hard on Hawaii
(Honolulu Star-Bulletin: Sun, 10 Dec) DURING the past months "peak oil" has been the subject of a heated discussion in the media, including in Hawaii. The state's energy security is too important for us to allow discussions of future energy options to become a battle about peak oil, pro or con.

Venezuelan oil exports to US drop
(El Universal: Mon, 11 Dec) Following a strike that cut Venezuelan oil output to 25,000 bpd in December 2002 and forced state-run oil giant Pdvsa into force majeure, Venezuelan oil exports to the United States rebounded and went up from 1.29 million bpd in 2003 to a peak of 1.55 million bpd only 12 months later.

Oil price dips below $62 a barrel
(BBC News: Mon, 11 Dec) Oil prices dip below $62 a barrel amid mixed signals over the possibility of further production cuts.

Oil exporters cut dollar deposits in Q2-BIS
(Reuters via Yahoo! Asia News: Mon, 11 Dec) LONDON, Dec 11 (Reuters) - Oil exporting countries deposited fewer dollars in the second quarter in the international banking system and increased euro and yen-denominated deposits, according to a report by the Bank for International Settlements.

Oil falls below $62, inventories weigh
(The Globe and Mail: Mon, 11 Dec) LONDON (Reuters) - Oil eased below $62 a barrel on Monday, pressured by high inventories and mixed signals over whether OPEC will curb crude output for a second time this year at a meeting this week.

UPDATE 4-Oil steadies near $62 ahead of OPEC talks
(The Forex Market: Mon, 11 Dec) LONDON, Dec 11 (Reuters) - Oil steadied below $62 a barrel on Monday as traders weighed high inventories and mixed signals over whether OPEC will curb crude output for a second time this year at a meeting this week.

OIL DATA: China Nov Crude Oil Imports At 13.54 Million Tons
(Nasdaq: Mon, 11 Dec) BEIJING -(Dow Jones)- China's crude oil imports surged to a record high in November, totaling 13.54 million metric tons or an average of 3.31 million barrels a day, data from the General Administration of Customs showed Monday.

OIL FUTURES: Crude Trades Lower Eyes IEA, OPEC
(CattleNetwork.com: Mon, 11 Dec) LONDON (Dow Jones)-Crude oil futures traded lower in London Monday as market participants eyed the upcoming OPEC meeting and a report by the International Energy Agency.

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