Oil Price Watch

**uls** · June 9th, 2011 12:46 PM

Originally Posted by jansky

^^ what does it means..???
if members produce above quota, this should lead to lower the price right..

even if they produce above quota, oil supply is still tight

most OPEC countries are producing at peak capacity except for Saudi Arabia

Saudi Arabia is the only member with excess capacity (claimed. but they never really show proof)

and besides, Saudi crude isnt the most in-demand type of crude

so even if they produce more, the price of the scarcer, more in-demand light sweet blends will still remain high

**Ry_Tower** · June 9th, 2011 01:14 PM

^ plus the speculators still lord it over the market and it is not the suppliers that control the price. It is the buyers.

**uls** · June 9th, 2011 01:46 PM

it's kinda obvious naman the US urged Saudi Arabia to increase oil output to drive down oil price to take some burden off the US economy

the US economy is slowing down

US consumers have cut back on spending coz of high food and fuel prices

U.S. Federal Reserve Beige Book: Chicago District (Text) - Bloomberg

Consumer spending increased at a slower rate than during the previous reporting period. Retailers reported that sales were mostly flat. Higher food and energy prices caused consumers to make fewer shopping trips and purchase fewer discretionary items.

Obama must have asked the Saudis to increase oil output at the OPEC meeting

unfortunately for Obama, Iran, Venezuela (USA haters) and other members opposed

**tidus1203** · June 13th, 2011 09:54 PM

New week, new price increases... And guess again who raises prices first? You guess it SHELL!

P0.50 for gas and P0.60 for diesel...

**uls** · June 13th, 2011 10:54 PM

Brent is near $120

nobody cares about Saudi Arabia increasing its oil production

their crude oil isnt the type of crude that's in high demand

**Monseratto** · June 13th, 2011 11:06 PM

Diesel will be P45-46 /liter

Shell raises prices of unleaded gas, diesel, kerosene | Inquirer Business
By: Amy R. Remo
Philippine Daily Inquirer 8:30 pm | Monday, June 13th, 2011

MANILA, Philippines—Pilipinas Shell Petroleum Corp. has raised prices of unleaded premium gasoline by 50 centavos a liter, diesel by 60 centavos a liter and kerosene by 40 centavos a liter effective Tuesday, to reflect the continued uptrend in the world oil market.

The price hikes were roughly the same as the estimates of the Department of Energy (DoE) which expected oil companies to raise prices of gasoline by 44 centavos a liter and of diesel by 60 centavos a liter.

Other oil companies, however, had yet to make their respective announcements as of Monday evening.

According to a DoE oil monitor report dated June 7, the higher price trends seen over the past weeks were due to several events including the weak US dollar over other currencies; intensifying unrest in Yemen; and continued political unrest in other oil-rich countries in the Middle East/North Africa region.

The increasing diesel and fuel oil consumption of power plants in Argentina because of dropping temperatures has also led to cuts of natural gas supplies. The Argentinian law provides that the government must cut gas deliveries to power plants first and then factories to guarantee supplies for residential and business users, which use the energy source widely for cooking and heating.

Also, as of last week, the Organization of Petroleum Exporting Countries (OPEC) failed to reach an output deal for a forecast world oil supplies, which could begin to fall short later in 2011, draining inventories just when the demand is expected to hit a seasonal peak.

A Philippine Daily Inquirer report stated that based on OPEC’s monthly report published last Friday, world demand for its oil would average 30.7 million barrels per day (bpd) in the second half of the year, much higher than the 28.97 million bpd that the 12-member group produced in May.

“The figures suggest the world will be undersupplied by 1.73 million bpd—enough to meet demand in an economy the size of France—if the organization of petroleum exporting countries does not increase supplies,” the report stated.

When global demand is higher than supply, world market prices naturally go up, thus largely affecting the Philippines, which imports most of its requirements, the DoE says.

**Monseratto** · June 20th, 2011 10:41 PM

Tuesday again...

Shell raises diesel price Tuesday | Inquirer News
By Amy R. Remo
Philippine Daily Inquirer 9:28 pm | Monday, June 20th, 2011

MANILA, Philippines – Pilipinas Shell Petroleum has announced that it is raising prices of diesel by 25 centavos a liter, effective on Tuesday.

The latest price hike, according to Shell, reflected the continued uptrend of prices in the global oil market.

**Ry_Tower** · June 20th, 2011 11:37 PM

Yun lang, late k na nabasa ito ah, hindi pa me naka-pa-full tank eh. Tsk tsk tsk

**crazy_boy** · June 21st, 2011 10:10 AM

parati nalang Shell nauuna sa increase ah hehe

**Ry_Tower** · June 22nd, 2011 11:52 AM

sana bumaba na price ng fuel
brent at $110.95 na lang eh...

**Ry_Tower** · June 24th, 2011 09:58 AM

Code for Crude Oil Dashboard

Brent now at $107.26 still, hopefully it's a good sign that we will have a price rebate by EOW.

**Monseratto** · June 25th, 2011 04:27 PM

Hold off your fuel purchase til tomorrow...

(UPDATE) Shell, SeaOil cut pump prices » Nation » Article

MANILA, Philippines - Pilipinas Shell and SeaOil Philippines today announced price rollbacks in the prices of diesel, kerosene and gasoline.

The oil companies announced said they will rollback the prices of their diesel by P1.75 per liter, kerosene by P2 per liter and gasoline by 75 centavos per liter.

The price adjustments will take effect 12:01 a.m. Sunday.

Shell and SeaOil said that the price cuts were due to the dwindling prices of oil in the world market.

Reports said that other oil companies may also implement price cuts by Sunday and Monday.

**speed unlimited** · June 25th, 2011 04:32 PM

Maganda balita para medyo makatipid naman iyong mga kasamahan nating motorista . Malaking bagay lalo na roon sa mga lumalabas ng Jeepney at Taxi.

**Ry_Tower** · June 25th, 2011 06:12 PM

Originally Posted by Monseratto

Hold off your fuel purchase til tomorrow...

Yes!!!!

$105 pa rin brent eh. Lowest level in a month.

**Ry_Tower** · June 27th, 2011 12:00 PM

Shell ang bagal nag-price rollback dito. naunahan pa ng Petron eh.

**CVT** · June 27th, 2011 12:04 PM

Hindi ko napansin kahapon ito a....

Pero, nakapagpa-full-tank ako ng diesel kahapon around 10AM.....

Time for fill-up our other rides....

13.6K:painting:

**Monseratto** · July 8th, 2011 11:07 AM

Heard that the next price hike will be P2.00. Better fill those tanks...

**meledson** · July 8th, 2011 11:29 AM

mas malaki pa ang nag babadyang pag taas na ito kasya sa dalawang beses na ibinababa.

**sn0wbLind** · July 8th, 2011 11:39 AM

P2.00 price hike? whahahaha kelan to?

**meledson** · July 8th, 2011 11:41 AM

either this week end or early next week.

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