World oil prices

The Price of Oil in 2015

The economic feasibility of producing biodiesel in South Africa will always be determined by the ratios among the international price of crude oil, the local diesel price and the prices of oilseeds such as sunflower and soybean.

Oil Prices and Global Growth

In my ongoing quest to become better at forecasting, I began, a few years ago, to pay attention to the five year forward oil price as it compares to the Brent crude oil spot price, the price of a barrel of oil today. I suspect that the five year forward price is much less influenced by speculation in the oil market than the spot price, and more representative of true commercial needs.

The price of feedstock used in the production of biodiesel relative to petroleum prices is a key determinant in the feasibility of biodiesel.

The oil price goes through the floor. That company goes out of business, and then you can bring the oil price back up.

Price of petrol is 0.35 per litre.

There is a huge amount of gas to be saved, about half the projected gas at about an eighth of its price.

They thus pose a significant threat of inflation, and the uncertainty about their future course is likely to discourage investment.

How Does the Weak Dollar Affect Oil Prices?

Since the US does not allow exports of crude oil, the shale revolution pushed down the US benchmark price, the West Texas Intermediate, relative to international crude prices, sometimes with differentials as wide as 20. US refiners took advantage of lower prices to increase their exports of petroleum products so much so, that they are now threatening the market share of Saudi refineries in Asia and elsewhere.

The price boom also embraced crude oil by 1995 average prices in 1996 were 31 per cent higher than two years earlier.

There has been a steady effort to arrive at market based prices for energy commodities, and prices of some of them (notably oil products) have for some years been derived from the world market price.

Last point, last graph. One of the things that we've got to do is to stabilize oil prices. This is what oil prices look like, OK?

When they crashed, we crashed.

Change due to fluctuation in the cost of fuel and lubricants.

The prices of oil and many primary commodities have slipped.

So if I had one closing and modest suggestion, let's set a stable oil price in Europe and the United States. How do you do that? Well, let's put a tax on oil that is a non revenue tax, and it basically says for the next 20 years, the price of oil will be whatever you want, 35 bucks, 40 bucks. If the OPEC price falls below that, we tax it. If the OPEC price goes above that, the tax goes away.

It could well be enough to double the oil price, for example.

As oil prices go up, energy patents go up.

That's before we got up to the four bucks a gallon.

It should be noted that the increase in energy prices was not limited to oil.

7. The price boom began with non oil commodities in 1994.

Natural disasters had also had an impact on oil prices as several refineries had ceased operation.

Keeping prices of unleaded fuel low encourages lower consumption of leaded fuel.

40. Aviation fuel.

For most non oil exporting developing countries, the improvement in commodity prices stimulated 2004 growth, outweighing the negative effects of higher oil prices.

The prices of raw materials such as oil or coal continue to rise.

The drop in the spot price of oil has taken it significantly below the five year forward price, which remains close to 80 per barrel. My hunch for 2015 is that oil prices may continue to drop in the short term unlike in the past four years, however, they are likely to finish the year higher than they were when it began.

IEA envisages the current peak in oil prices to be temporary, and prices over the planning period are assumed to return to 25 30 per barrel.

Political pundits agree that presidential approval ratings are highly correlated with gas prices when prices go up, a president s poll ratings go down. But, in view of America s long history of neglect of energy security and resilience, the notion that Barack Obama s administration is responsible for rising gas prices makes little sense.

As of Wednesday's close, the light crude oil futures of New York Mercantile Exchange fell by 2.48 in September and the future price of crude oil in October in London Brent fell by 2.07 .

Furthermore, oil producing countries were paying a high price for the technology which they were importing.

Oil prices rose throughout 2004, with accelerating fluctuation as prices peaked in August and October.

The Transition will cost in line with other small airplanes.

We were forced to accept a higher price from a different foreign line.

In particular, the volatility of food and commodity prices, including petroleum prices, is seriously denting the financing capacity of many poor countries.

At the same time, oil hedging not only raises oil prices but results in huge reserves of cash in oil producing countries.

That price trend continued into the first quarter of 2005. The 2004 yearly average West Texas Intermediate (WTI) spot price was 41.51 per barrel and that of the OPEC reference basket was 36.05 per barrel.

Rising prices for cotton (increasing by 28 per cent from 1994 to 1996) and oil have benefited Egypt, as have higher prices for phosphates (15 per cent in the same period) in the case of Morocco.

Such fundamental changes in the supply side of the market naturally drove oil prices lower a lot lower. Prices plummeted by more than half in a period of just a few months last year, catching many oil traders and analysts by surprise.

Consequently, the price of drawing petrol at existing petrol stations at 0.60 per litre has been used ( 39,600).

Perhaps most important, current retail petrol prices are readily visible.

Surging oil prices are draining our foreign exchange revenues.