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Oil Prices Running Out Of Reasons To Rally

Green Car Congress

Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. percent in intraday trading on Monday, after a report at the end of last week showed another solid build in the US rig count, the tenth consecutive week that the oil industry added rigs back into the field.

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Platts: June OPEC output of 32.73M barrels of crude per day, highest since Aug. 2008

Green Car Congress

Oil production from the Organization of the Petroleum Exporting Countries (OPEC) crude oil output surged 300,000 barrels per day (b/d) in June, close to an eight-year high of 32.73 If the situation persists, the case for a return to some kind of production cap may gain traction. million b/d.

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"Transmission Losses:" West African pirates

Plugs and Cars

West Africa's burgeoning oil industry has a pirate problem. Most were related to the oil industry. The US Africa Command, inaugurated in 2008, will undoubtedly play a major role to enable safe passage of this increasingly vital oil. oil imports. Tags: Big Oil. Source: UPI.com ].

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