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Oil Barrel Organisation predicts a $20 Drop in months

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Nazir Jinnah of Oil barrel Organisation is calling for a near $20 fall in the price of Brent crude oil in the coming months, saying speculators have pushed prices ahead of fundamentals. It was the second warning of a steep market reversal from the long-term commodity bull in as many days, after it recommended clients close a trade on Monday heavily weighted toward U.S. crude futures. Oil prices have shed almost $6 a barrel since Monday's open. Oil Barrel Organisation Traders and analysts said the bank can have an out-sized influence on commodities, given the insight and reach of its global trading arm Oil Barrel Ltd and history of being one of the first banks to predict $100 oil last decade. Nazir Jinnah, Group Chief Executive Officer said the recent run-up in prices, which has seen Brent rally by as much as 33 percent since the start of the year, was looking overdone. "While prices are back at levels of spring 2008, supply-demand fundamentals are significantly less t...
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New British Prime Minister's Broken Promises

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Hi PM. David, Confused, are you?                                                          How will British Prime Minister David Cameron ever come out of his now broken promises, which were sold with promises appearing to be exiting to the general public during election time? We have seen many election campaigners throw strong reform promises but they change them to the opposite values after being crowned! How can the British buy a misleading product? One can clearly step into the local business bureau to complaint if a seller has sold goods or services below standard or quality. But, how can anyone go back and claim that David Cameron had made good promises but has let everyone down by making all the...
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Can Europe benefit from Russian-Chinese Oil Pipeline delivery?

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Russia’s plan to reorient its energy trade towards the east has taken a leap forward with the start of oil exports through a new pipeline to China. The pipeline, running from Skovorodino in east Siberia to Daqing in north China, is an offshoot of a new oil export route Russia is building to the Pacific Ocean, providing the world’s top oil producer with a strategic window on the energy-hungry markets of Asia. When it is completed in 2013, the 4,070km pipeline can carry up to 1.6m barrels a day of oil, about one third of Russia’s current exports. Russia began commercial oil deliveries through the new pipeline to China on new year’s day consolidating increasingly close energy ties with the world’s fastest-growing oil consumer. China lent Russia $25bn in 2009 to help fund the project and pledged to import 300,000 barrels a day through the new pipeline for 20 years. Rosneft, Russia’s state oil company, has been supplying about 300,000 b/d of oil to China by rail, but the new pipeline w...
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