Not Logged In Log In   Sign Up   Points Leaders
Follow Us    3:19 PM

GasBuddy News Article

37
votes
Oil extends gains after OPEC lifts demand forecast

AP via Yahoo! Finance -- The price of oil rose slightly Wednesday, adding to gains a day after OPEC upgraded its forecast for global crude demand.

Benchmark oil for March delivery was up 8 cents to $97.59 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 48 cents to finish at $97.51 per barrel on the Nymex on Tuesday after OPEC raised its 2013 forecast for global oil demand to 89.7 million barrels. That's 80,000 barrels more than its previous forecast a month ago.

The Vienna-based organization comprising many of the world's key oil exporters cited "some signs of recovery in the global economy and colder weather at the start of this year."

Traders were looking to the U.S. later in the day for the release of January retail sales figures ...


Read the Full Article

Submitted Feb 13, 2013 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil extends gains after OPEC lifts demand forecast Back to Topics
REPLIES (newest first) Post a Reply
Rajah
Champion Author Illinois

Posts:9,454
Points:2,945,600
Joined:Jul 2005
Message Posted: Feb 14, 2013 10:47:32 PM

Please get the speculator hedge funds out of this commodity market. They are raising prices without adding any value. Make it such that buying oil means taking physical delivery of it. There are no tank farms on Wall street. Oil should be sold directly to the refiners with no middle men.
dylan126
Champion Author Cleveland

Posts:7,724
Points:1,363,245
Joined:Sep 2011
Message Posted: Feb 14, 2013 3:36:39 PM

prices still higher
jrs4125
Champion Author Indiana

Posts:4,990
Points:1,348,130
Joined:Sep 2011
Message Posted: Feb 14, 2013 7:25:54 AM

Will it matter at the pump?
scorpiogg
Champion Author Modesto

Posts:1,675
Points:818,430
Joined:Nov 2012
Message Posted: Feb 14, 2013 2:08:30 AM

crap
rahcat
Champion Author Grand Rapids

Posts:5,970
Points:1,443,975
Joined:Jan 2010
Message Posted: Feb 14, 2013 12:16:04 AM

Just getting so tired of this crap.
clermont40miles
Champion Author Cincinnati

Posts:14,685
Points:2,547,420
Joined:Apr 2008
Message Posted: Feb 13, 2013 11:59:56 PM

The legal thievery continues apace.
billwho
Champion Author El Paso

Posts:3,118
Points:937,130
Joined:Jan 2010
Message Posted: Feb 13, 2013 11:57:28 PM

"They" can watch us all they want. Sure "they" wont learn much. They should be looking in their own backyard and so should we.
mcmonsta
Champion Author Honolulu

Posts:6,193
Points:1,586,750
Joined:Sep 2009
Message Posted: Feb 13, 2013 11:50:17 PM

OPEC still alive and kicking our carcasses at the pump
furiousfowl
Champion Author Riverside

Posts:19,735
Points:3,473,445
Joined:May 2005
Message Posted: Feb 13, 2013 11:35:05 PM

higher and higher we go, where it stops, nobody knows
TheSnowstorm
Champion Author Montreal

Posts:9,676
Points:2,560,640
Joined:June 2005
Message Posted: Feb 13, 2013 11:34:53 PM

Forecasts can and often are wrong. But in the case of crude and other energy commodities, forecast mean squat to the speculators; they will use any excuse or factoid to run up the prices.

What do hey care, they don't have to take delivery on the buys.
drz614
Champion Author Harrisburg

Posts:5,585
Points:1,377,090
Joined:Aug 2011
Message Posted: Feb 13, 2013 11:33:53 PM

bad policies just getting worse. agree w/ snagged 100 percent
mstearno
Champion Author Dayton

Posts:9,689
Points:2,358,560
Joined:Jan 2008
Message Posted: Feb 13, 2013 11:27:53 PM

he only way to pull the plug on them is become energy producers
of all kinds
snagged
Veteran Author Akron

Posts:459
Points:338,840
Joined:Oct 2012
Message Posted: Feb 13, 2013 11:25:11 PM

Just the beginning. Soon it will be $150,$200,$250. You'll will be shocked. Why? Print, Print, Print. The Fed's only solution.
Zeke33
Champion Author New Hampshire

Posts:7,786
Points:2,146,840
Joined:Sep 2005
Message Posted: Feb 13, 2013 11:23:16 PM

OPEC is run by a bunch of hotheads.
wayoung56
Champion Author Alabama

Posts:5,916
Points:1,580,210
Joined:Oct 2006
Message Posted: Feb 13, 2013 11:22:27 PM

Just more bad news for consumers...
tco9436
Champion Author Connecticut

Posts:2,713
Points:1,380,685
Joined:Mar 2010
Message Posted: Feb 13, 2013 11:18:37 PM

Ok
vibdata
Champion Author Massachusetts

Posts:5,136
Points:1,078,590
Joined:Nov 2005
Message Posted: Feb 13, 2013 11:16:20 PM

This article was written to fuel the BIG OIL demands for higher prices. Not OPEC's. Just BIG OIL.
D4444J
Champion Author Albuquerque

Posts:5,030
Points:1,355,245
Joined:Aug 2011
Message Posted: Feb 13, 2013 11:15:49 PM

OPEC is crazy greedy!
BREW9
Champion Author Tampa

Posts:4,122
Points:3,691,635
Joined:Jun 2004
Message Posted: Feb 13, 2013 11:14:46 PM

keep drilling
jorod55
Champion Author California

Posts:4,731
Points:1,211,505
Joined:Dec 2011
Message Posted: Feb 13, 2013 11:13:34 PM

And for your excuse of the day...
And pump prices set to go through the roof.
cwashi3324
Champion Author Cincinnati

Posts:3,509
Points:734,895
Joined:May 2009
Message Posted: Feb 13, 2013 11:11:45 PM

Opec makes me sick!
SavALot
Champion Author Virginia Beach

Posts:10,870
Points:2,449,910
Joined:Apr 2005
Message Posted: Feb 13, 2013 11:11:26 PM

need to see something positive come out of this
Z51Corvette
Champion Author Austin

Posts:11,161
Points:2,360,980
Joined:Jan 2008
Message Posted: Feb 13, 2013 11:10:01 PM

Time to pull the plug on OPEC!
us4usa
Champion Author Missouri

Posts:7,158
Points:1,563,725
Joined:May 2008
Message Posted: Feb 13, 2013 11:08:52 PM

The fastest way to slow the economy is with higher gas prices...
scubadaniel
Champion Author Dayton

Posts:4,534
Points:1,462,470
Joined:Jan 2011
Message Posted: Feb 13, 2013 11:06:14 PM

That's why the price jumped $.35 yesterday.
suzmar
Champion Author Texas

Posts:3,497
Points:1,446,515
Joined:Jun 2006
Message Posted: Feb 13, 2013 11:03:59 PM

Let's see and another one of the news stories said that oil reserves stand at record highs.
pgerassi
Champion Author Milwaukee

Posts:14,161
Points:2,909,315
Joined:Apr 2007
Message Posted: Feb 13, 2013 11:01:49 PM

More baloney from OPEC.
naspa
Champion Author Cleveland

Posts:4,655
Points:1,132,625
Joined:Jan 2012
Message Posted: Feb 13, 2013 11:01:24 PM

I don't care anyway; I have to pump gas either cheap or expensive.
EXTREMESNOW
Champion Author Medford

Posts:9,044
Points:2,162,945
Joined:Jul 2006
Message Posted: Feb 13, 2013 11:00:08 PM

ok
DrGasPain
All-Star Author Dallas

Posts:532
Points:1,009,255
Joined:Mar 2011
Message Posted: Feb 13, 2013 10:59:46 PM

Drill, drill, drill
blazerbob91
Champion Author Milwaukee

Posts:7,101
Points:2,607,910
Joined:Aug 2005
Message Posted: Feb 13, 2013 10:59:04 PM

OPEDC doesn't affect prices anymoare
sickhp
Champion Author San Antonio

Posts:3,548
Points:1,242,785
Joined:Sep 2011
Message Posted: Feb 13, 2013 10:57:15 PM

Drill baby drill in all of America and tell OPEC to go pound sand.
NorthglennBill
Champion Author Denver

Posts:10,551
Points:2,233,725
Joined:Oct 2008
Message Posted: Feb 13, 2013 10:55:08 PM

Any old excuse.....
porotito
Champion Author Houston

Posts:2,276
Points:615,055
Joined:Dec 2010
Message Posted: Feb 13, 2013 10:54:17 PM

More domestic supply won't drop prices...looks like no one knows the reality of gas prices.
smoketown
Champion Author Cincinnati

Posts:9,263
Points:2,133,135
Joined:Feb 2008
Message Posted: Feb 13, 2013 10:53:36 PM

Time to stop exporting our oil of this country.
checkitnow
Champion Author Atlanta

Posts:2,791
Points:1,206,110
Joined:Aug 2010
Message Posted: Feb 13, 2013 10:50:15 PM

more domestic supply is the answer
paulydel
Champion Author Delaware

Posts:11,905
Points:1,419,590
Joined:Jan 2008
Message Posted: Feb 13, 2013 10:44:49 PM

We just continue to get screwed and it won't get better in the near future either.
iamforiu
Champion Author Indiana

Posts:6,845
Points:1,491,440
Joined:May 2011
Message Posted: Feb 13, 2013 10:41:12 PM

hmmmm
Tralp
Champion Author North Carolina

Posts:3,952
Points:966,120
Joined:Oct 2012
Message Posted: Feb 13, 2013 10:37:20 PM

Gas prices are BS. all oil companies should be penalized by giving us gas for nothing for there overcharging.
Lizzylou
Champion Author Stockton

Posts:8,818
Points:2,357,285
Joined:Oct 2005
Message Posted: Feb 13, 2013 10:33:18 PM

NOT GOOD!! Prices are at $3.99 already!
dasimon
All-Star Author Florida

Posts:556
Points:590,850
Joined:Mar 2011
Message Posted: Feb 13, 2013 10:32:25 PM

BS
Chris46
Champion Author Dayton

Posts:50,560
Points:2,848,115
Joined:Sep 2005
Message Posted: Feb 13, 2013 10:31:07 PM

More reasons for gas prices to go up
walkingtall
Champion Author Toronto

Posts:7,093
Points:1,885,665
Joined:Nov 2004
Message Posted: Feb 13, 2013 10:27:51 PM

Which translate into increase at the pumps.
abcdMA
Champion Author Worcester

Posts:11,127
Points:2,342,215
Joined:Nov 2008
Message Posted: Feb 13, 2013 10:23:20 PM

higher oil prices will mean higher gas prices which means less consumer cash which means less spending which means economic retraction which means recession
Is246
Champion Author Albuquerque

Posts:1,117
Points:874,020
Joined:Apr 2011
Message Posted: Feb 13, 2013 10:22:46 PM

Why are we letting OPEC decide demand???
nwsynthetics
Champion Author Oregon

Posts:1,143
Points:584,265
Joined:Dec 2011
Message Posted: Feb 13, 2013 10:22:30 PM

ok
gknee09
Champion Author Philadelphia

Posts:1,039
Points:978,145
Joined:Jul 2009
Message Posted: Feb 13, 2013 10:21:16 PM

which translates into an increase of what at the pump?
76chevy
Champion Author Toledo

Posts:5,299
Points:1,420,240
Joined:Jun 2010
Message Posted: Feb 13, 2013 10:19:56 PM

Why not kill any recovery with higher energy prices?!
billy44bo
Champion Author Mobile

Posts:10,264
Points:2,255,560
Joined:Feb 2008
Message Posted: Feb 13, 2013 10:18:33 PM

I am with you Tonypsu
ericbcire
Champion Author Nevada

Posts:7,749
Points:2,043,460
Joined:Aug 2009
Message Posted: Feb 13, 2013 10:18:26 PM

Prices must drop or the economy will worsen.
TonyPSU
Champion Author Cleveland

Posts:5,600
Points:1,438,140
Joined:May 2011
Message Posted: Feb 13, 2013 10:15:43 PM

yaddy yaddy yaddy
Post a reply Back to Topics