Tag Archives | OPEC

OPEC plans to keep oil above $70/bbl

According to Paul Hodges (aka the chief economist) over on Chemicals and the Econonmy, the spat brewing between OPEC (the oil producers’ club) and the International Energy Agency (the rich countries energy watchdog) is coming along nicely. According to Hodges, Claude Mandil, director general of the IEA, told Arab Oil and Gas ‘the market has […]

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The us push for biofuels causes oil to rethink refinery investments

Over on Biopact there is a discussion about how the US push for biofuels is causing the oil industry to rethink refinery investments There might be some merit in the refiners position, but only if the marginal increase in capacity of biofuels was going to be sufficiently large to

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OPEC says biofuels could push gasoline prices higher

OPEC says that biofuels could push gasoline prices higher, according to a report on ICIS news quoting the Financial Times. (Disclosure, I work for ICIS: About ICIS) The reasoning behind it goes like this according to secretary-general Abdalla El-Badri:  biofuel production could prove unsustainable in the medium term as it competed with food supplies. In […]

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