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Posts Tagged ‘IEA’

IEA: China buys more oil from Iran

February 22, 2012 Comments off

presstv.ir

Frontline Ltd.’s supertanker ‘Front Shanghai’.
 
The International Energy Agency (IEA) says China has bought an additional 200,000 barrels per day of Iran’s oil in recent months.

Didier Houssin, IEA director of energy markets and security, said on Tuesday that Beijing is the world’s second-biggest crude consumer and may continue to increase oil imports from Iran.

“China has been buying more crude and may continue to do so,” he said at the International Petroleum Week conference.

Earlier this month, the IEA predicted that China’s purchases of Iranian crude would slow in the first three months of the year.

This comes while the IEA’s latest report predicts that China’s oil demand would Read more…

Oil Should Spike Higher Following Saudi Riots and Nigerian Elections in April

March 11, 2011 Comments off

businessinsider.com

The following special report on oil (LA Blog Only, leverageacademy.com/blog) discusses the oil market, providing reasons to be bullish  on the commodity given unrest in the Middle East, Nigerian elections in April, and rising domestic consumption in oil producing countries, including Venezuela, Nigeria, and Iran.  According to the article, the rise of oil prices could easily cause the next recession.   In 2010, soft commodities outperformed energy, but that will certainly change given the political headwinds abroad and continued monetary easing in the developed world.  Therefore, the Bernanke “Put,” combined with political unrest will be to blame for continued sharp price increases in the energy commodity sector.

Emerging market demand, especially in China, which now consumes nearly 10mm barrels of oil per day, will also be driving the demand side of the equation.  Money supply in China was also up 19.7% in 2010, because of the rapid Read more…