IEA Revises Oil Demand Forecast For 2010 And 2011

Progressively more expensive, demand and offer in the global oil market crude oil was traded last month. The background was on the one hand, positive developments in the financial markets, and supply disruptions in the Gulf of Mexico and the North Sea. At the beginning of the month August the gobbled up oil assets (BRENT) rose to a three-month high, before then due to comfortable supply quantities and renewed problems in the global economy to around $80 / barrel fell back. In OECD countries, inventories fell in June at 2.76 billion barrels. The current demand may be enough for a total of 61 days. Preliminary data for the month of July indicate an increase of 21.5 million barrels. The stocks for products and crude oil storage vessels are, however, further fallen with increased production for products in the United States, and therefore overall higher stocks could be created.

Global oil supply rose in July, after Norway ended his maintenance work on various delivery platforms, and the OPEC increased output Another 850,000 barrels / day. The global demand for oil will increase in the years 2010 and 2011 based on current estimates of the IEA for the now positively stained global economic Constitution in the current year to 86.6 million barrels per day and on 87.9 million barrels per day in 2011. A weaker performance of the world economy could cut demand but 290,000 in 2010 and 1.2 million respectively. This depends on whether the State 5.09 continue to run or not. The OPEC crude oil supply rose by 220,000 barrels per day in July to an average of 29.2 million barrels. Substantial increases were the producing countries of Nigeria and the Arab Emirates.

The necessary reduction in OPEC crude capacity could in the future slightly lower drop out. The liquefied petroleum gas production will increase in the years 2010 and 2011 but each around 0.6 million barrels per day. Meanwhile, the call within OPEC to curtail the supply of crude oil, was encouraged. In 2010 and 2011 respectively 100,000 barrels / day on a total of 28.8 million barrels / day, or 29.1 million barrels. The forecast for the actual supply in the third quarter of 2010 amounted to 29.2 million barrels per day, so provides no market incentives. The supply from non-OPEC countries will increase 2011, so the IEA, in the year to 52.9 million barrels/day. BP has meanwhile closed proposed leak hole, what but still based on the yield means a loss of around 60,000 barrels per day into the Gulf of Mexico. Regional project delays are likely to increase the loss in 2011 to a total of 100,000 barrels per day. The global refinery throughput increased 2010, 73.9 million barrels per day in the second quarter according to the IEA estimated. A further increase to 74.7 million barrels is expected in the third quarter. A slight recovery in the United States, as well as further growth in non – OECD countries and in Asia provide according to IEA growth compared with the previous year. States of Europe, Pacific and Latin America show the OECD still deficits, but due to extensive maintenance or operational problems Although here in Q3 2010 improvement can be expected. GAS REVIEW Hamburg Thomas Bakosch

Troy Already

The price for the coveted metal tends to currently just under $ 1400 per Troy ounce of gold. “Constance, 03.06.2013 – and while many large investors the time probably very temporary hype to make exchanges with want and therefore shut down their gold content, currently of many private investors around the world fill their deposits as also the Gold reporter” writes (link). The Frankfurter Allgemeine Zeitung (FAZ) reported in a recent issue, that Degussa gold dealers had twice as high demand in may as in the already good first quarter. “Frankfurter Allgemeine Zeitung writes: In April bought three times more people than other gold coins, the U.S. Mint”. And who hopes to be able to buy the coveted Krugerrand, must have already back, because the South African Mint takes no orders currently.

“So it is not surprising that the magazine Fonds Professionell Swiss investment guru Marc Faber”, the magazine quoted: I buy every month Gold and I buy more of them.” Currently Faber last but not least is the gold price only in a technical break because of the strong stock market”. He describes the actors as a momentum player”, running behind the, what rises and sell what goes down. Interesting evidence comes also from the Stuttgart stock exchange, working out in a very readable article (link), that gold can bring stability to a portfolio, although the price of gold fluctuates. Just the largely independent of economic cycles unless, that constitutes the value. Quote: The United States and the Federal Republic of Germany central banks hold about three-quarters of its foreign currency reserves in gold. (…) In the past year alone banks no longer bought 534,6 tonnes of gold as much as 50 years worldwide”. Almost already pathetic the stock market highlights Stuttgart: in addition it appreciated everywhere for thousands of people on the world and has kept all this time his value…

“.” Interesting findings and also in front of the Background to question, as many analysts who see global stock quotes in the case, central banks should their cheap money”back. The offers of the fund company Canada show that there are more interesting ways, to participate at the beginning of the value chain of the valuable precious metal gold trust. The company aims to open up with similarly experienced partners before local gold mining areas, and to generate profits by selling gold. The refinancing is done by private investors who achieve high payouts in case of success. So far all projects run in in accordance with planning, all payments were made as prospects.