Alexa
  • Directory of Taiwan

Oil lurks near US$46 after demand report

Oil lurks near US$46 after demand report

Oil prices crept toward US$46 a barrel yesterday in Asia after the United States. Energy Department decreased its 2009 crude demand forecast, stalling a two-week rally.
Benchmark crude for April delivery rose US$0.02 to US$45.73 a barrel by midday in Singapore on the New York Mercantile Exchange. Oil prices fell US$1.36 on Tuesday to settle at US$45.71.
The department's Energy Information Administration said Tuesday it lowered its forecast for global oil demand for this year by 200,000 barrels a day from last month and now projects a decline of almost 1.4 million barrel a day in 2009.
Its projection for global oil consumption this year is now 3 million barrels a day below its forecast from September.
The EIA report cut its estimate for the average oil price to US$42 per barrel for 2009 and US$53 in 2010 from US$43 and US$55 last month.


Updated : 2021-05-15 18:57 GMT+08:00