Mexican oil prices climb to $ 31.20 per barrel

May 06, 2004 02:00 AM

The price of the Mexican crude oil mix for export has risen $ 1.44 since April 30 and arrived at $ 31.20 per barrel, stated State-owned oil company Petroleos Mexicanos (Pemex).
International oil prices have reached a 13-year high, with US reference crude oil at close to $ 40 per barrel, due to possible shortages of gasoline in the United States during the summer.

The fears of attacks on or sabotage to Middle East oil facilities have also been keeping prices very high in recent weeks. US light crude oil reached a peak of $ 39.97 per barrel while Brent North Sea hit a top price of $ 37.20, its highest price since October 1990. Gasoline futures slipped slightly after having reached a record price.
"I think we are going to see a four in front of oil prices very soon," said Commonwealth Bank of Australia strategist David Thurtell. "Certainly it is very bad for the world's consumer countries," he added.

OPEC is scheduled to meet in Beirut next June 3, where the oil cartel could well decide to increase production levels to keep prices under control.

Source: CNI
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« November 2019 »
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30

Register to announce Your Event

View All Events