Home About Kuna Advertise Contact Us Kuna's Bureaus Services Term Of Use
Register Login
facebook Twitter Youtube rss
Israel attacks S. Lebanon      KSE ends Wednesday's session in green zone      US lauds release of journalists, calls on Eritrea to free more      US condemns Sudan attack on hospital
  Power & Materials
Oil prices between USD 105-115 during Q4 -- experts
24/10/2013   |   04:13 PM | Kuwait News
تصغير الخطالشكل الأساسيتكبير الخط

By Osama Jalal

KUWAIT, Oct 24 (KUNA) -- The price of crude oil is likely to oscillate between USD 105-115 during the remainder of the 4th quarter due to the onset of winter when demand for heating oil spikes, said two Kuwaiti energy experts on Thursday.
The experts, Dr. Talal al-Bathali and Ahmad Hassan Karam, concurred on the premise that no geopolitical influences will probably affect the oil price during the 4th quarter as they did during the 3rd quarter when the Syrian crisis and the US debt ceiling issue dominated the political scene.
Stressing that the spread in the oil prices would not go beyond USD 10 in the 4th quarter, al-Bathali noted that in all probability increased shale oil production in the US and Canada would not affect the supply and demand curve by much and therefore prices more or less would be stable.
US shale oil production rate currently does not match the demand for it in oil markets, he said, noting that any oversupply will be easily sopped up by the likes of giant consumers as China, Japan, India, and South Korea.
Karam, while agreeing that the price of oil might inch up a tad in the 4th quarter, considered any price over the 100 dollar mark a fair one. He said that demand for heating oil this winter was likely to add two to three dollars to the price of oil, but not much more.
What will keep the prices as high as they currently are and in the foreseeable future, he said, are the lowering of oil production in Libya (600, 000 barrels a day, down from 1.5 million) and the ban on the purchase of Iranian oil.
He expected that OPEC will keep its production level of 30 million barrels a day unruffled as it is quite satisfied with the current prices.
Furthermore, he said that US shale oil production, though not having a tangible influence on oil prices now, might in the long run affect prices due to overproduction and oversupply of oil in world markets. He said global expectations were that in the near future the US will be seen as the largest oil producer in the world and China the largest consumer. (end) osj.ajs KUNA 241613 Oct 13NNNN

 Print
  Email
 Save
Share
Share
Honoring Kuwait 2014
صور من 2014


KUNA publishes a book titled (His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah: A Humanitarian Leader) to commemorate the UN honoring of Kuwait's leader

kuna magazien


Most Read Most Emailed  
1.   Kuwait declares three-day mourning over death of Saudi King Abdullah
2.   Kurdish troops advance on ISIL in Syria's Kobane
3.   His Highness the Amir expresses condolences over demise of late Saudi King Abdullah
4.   Hagel lauds US-India defense cooperation deals
5.   Kuwait Speaker's visit to Turkey is tribute to bilateral ties - Diplomat
6.   France stresses importance of Fabius visit to Kuwait Tuesday
    Photo Gallery

سوق الكويت للاوراق المالية (البورصة)

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah receives Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah and Shooting Association President Pushpa Das Shrestha

Deputy Prime Minister and Minister of Commerce and Industry Dr. Abdulmohsen Al-Madaj

Deputy Prime Minister and Interior Minister Sheikh Mohammad Khaled Al-Hamad Al-Sabah

Minister of Health Ali Al-Obaidi

"KUNA Junior" magazine

His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah

His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah

Prince Mohammad bin Salman bin Abdulaziz

Minister Prince Mohammad bin Nayef bin Abdulaziz

Minister of Education and Minister of Higher Education Dr. Bader Al-Essa

Saudi Crown Prince Muqrin bin Abdulaziz Al Saud

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah

Saudi King Salman bin Abdulaziz Al-Saud

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah returns home

King Abdullah bin Abdulaziz bin Abdulrahman bin Faisal bin Turki Al-Saud

First Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah offers condolences to King Salman on King Abdullah's death

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah offers condolences to King Salman on King Abdullah's death

Undersecretary at the Kuwaiti Foreign Ministry Khaled Suleiman Al-Jarallah

His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah heads to Saudi to extend condolences on demise of King Abdullah

Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah

Parliament Speaker Marzouq Al-Ghanim
Publications

WEATHER
PRAYER
CURRENCIES
KUWAIT AIRPORT
    Calendar
About KUNA KUNA SERVICES USEFUL LINKS KUNA ARCHIVE KUNA PUBLICATIONS
Home
About Kuna
Advertise
Contact Us
Kuna's Bureaus
Services
Term Of Use
Read The Whole Newscast
Pictures (during the week)
FTP Service
KUNA training center
KUNA Reader
SMS Services
الكويت فى ذاكرة الأيام
Images 2014
Job Application
Careers
Arab News Agencies
International News Agencies
Governmental Institutes
Banks in Kuwait
News Paper
Local Companies
other useful links
Prayer Times
News Archive
Other News Services
Today In Kuwait's History
Events
Training Sessions
Videos
All KUNA right are reserved © 2012. This site is designed and published by IDS