Peringatan untuk aku yang selalu lupa

سُوۡرَةُ آل عِمرَان

رَبَّنَا لَا تُزِغۡ قُلُوبَنَا بَعۡدَ إِذۡ هَدَيۡتَنَا وَهَبۡ لَنَا مِن لَّدُنكَ رَحۡمَةً‌ۚ إِنَّكَ أَنتَ ٱلۡوَهَّابُ

[3:8] (Mereka berdo'a): "Ya Tuhan kami, janganlah Engkau jadikan hati kami condong kepada kesesatan sesudah Engkau beri petunjuk kepada kami, dan karuniakanlah kepada kami rahmat dari sisi Engkau; karena sesungguhnya Engkau-lah Maha Pemberi (karunia)".

Thursday, July 17, 2008

Oil Price Dip Below USD130 per barrel...

The crude oil prices continued to slide and closed below 130 U.S. dollars a barrel for the first time in more than a month on Thursday (17/07/08) following reports that the crude oil inventories is building in the US.

The Energy Department's Energy Information Administration said in its weekly report that crude oil stockpiles jumped by 3 million barrels and natural gas inventories rose by 104 billion cubic feet last week. The unexpected increase prompted the large sell-off as the investors are concerned that the high energy prices have curtailed the demand.

Can the crude oil prices sustain the downward momentum? If base on the current situation, there is definetly a surplus of production compared to demand and if the trend continues, the crude oil can slide down lower. The high oil price has triggered the consumers to adopt a more prudent approach to cut down and to minimize their oil related activities. People have been switching their SUVs with a more fuel efficient hybrid and many people are using the public transport to safe on their fuel consumption. In Malaysia, there have been some reported drop in the sales of petrol and diesel at the kiosk and there have been lesser car on the road since the government decision to increase the price of fuel around 40%-60%.
Currently, the market selling price of crude oil at around USD130 - USD150 is well above the estimated cost of production of around USD20 to USD40 at the pump. Nevertheless, when discussing about oil and gas field development project, we should also take the note of the high investment during the exploration and development period which can be in billions and also the high risk that some drill wells may appear to be empty. At USD130, the ROI for the many oil and gas investors and operators can be as quick as within 1 year period, since the price of selling is far exceed the cost of producing, and many marginal fields and other deepwater fields can becoming more viable.
The high crude oil price also has triggered many countries to focus on the initiatives to be independent of the fossil fuels and to search for renewables and other alternative energy. Most major developed countries in the Europe have impose a very strong policy in their effort to be less dependent on oil and they have greatly encourage the usage and development of alternative energy and other fuel efficiency initiatives. If this trend of strong policy to be independent of fossil fuels can be adopted by other developing countries, there will be a higher possibilities that the current crude oil prices can drop further in the coming months.



Anonymous said...

Salam bro,

Satu nyayian 'unplugged':

- intro : gitar solo -

Kalau tuan pandai menyurat
Suratkan saya kertas yang biru
Masalah minyak amatLAH berat
Tidur tak kenyang, mandi tak lalu

- gitar solo -

Hendak gugur, gugurlah nangka
Usah gugur di dahan nan rapuh
Hendak tidur, pejamlah mata
Usah dikenang minyak tak jatuh

- gitar solo -
- fade ending -

ijad said...

salam... apa khabar sekarang..

Danielle_Corleone said...

turun balik.

Letting the time pass me by said...

bro anon
kelas lirik tu....

khabar baik

sekarang tengah main disekitar USD 130

Aboo said...

Ops...more accurate :
11.42pm July 22 - USD127.84!


Add my link bro!

Letting the time pass me by said...

Yahh .. these 2-3 days, there is a positive movement in the oil price... hopefully in can dip further to around USD80...

i'll add you link ... no problem.

TheWhisperer said...

looks like my calculation on USD148 peak almost came true. Well, at least it is close enough.

Yesterday it touched the USD 125 mark and from here we can expect a technical in oil price.

Aboo said...

Fuel price update!
1:17am, 25July - USD124.31

Thanks for the link bro!
I'll keep you fuel price...haha!

aboo said...

*i'll keep you price update!

aiyak...ter-miss U.P.D.A.T.E!


anakmalaysia said...

Harap turun lagi... so boleh revised subsidy... then inflasi boleh turun semula if peniaga pun turunkan harga..

but will bussiness turunkan harga?

Letting the time pass me by said...

the whisperer
yeah... your prediction is spot on.. hopefully there will be some changes in the oil trend.. I really hope crude to stabilize at around USD80/barrel..

you are welcome

business memang boleh turun harga kalau ade trend market yang sihat. Tengokla komputer, berapa banyak dah turun harga... sekarang thumb drive pun dah murah-murah aje..