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Market Pulse: U.S. shale boom only barrier to oil spike -IEA

Friday, August 09, 2013 - 05:18

Aug. 9 - Better-than-expected Chinese data helps oil to snap a five day slide, and only the U.S. shale boom stands in the way of a major price spike for crude, says the IEA.

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Yeah. That an unexpected Chinese data giving oil prices a lift today off to find straight days of declines the move comes. As the IAEA says only the US shale gas -- stands in the way of a major price spike. I impractical so out of its two cents its latest report pointing to steady the mom. -- -- fourteen that's get a comment -- commodity analyst constant French. Constant this this support we've seen for brand. How long as I like you got lost class support how much -- -- Garnett. I'm rather a skeptic. A -- it's. Sustainability of today's price gains it's elevated to a the most reasons. -- reports you mentioned from I and OPEC has since both the pilot continuance. All the supply in the oil market event in 22014. So. The Chinese it does sudden and as support. Also continue to and you was symbolic. Supply Paul runs in and all -- and in their lead affects some book. But. Can of its supply of sedation in the oil market is still ample. So is that okay where one out of seven foresee right now from what what what's -- yet. Get target over the next few weeks and what you're talking at the end of the year. And the expect. Or prizes to -- towards -- Toronto come on their votes in the upcoming weeks. If two. Look of speculative. Net long positions in the market. -- they continue to put pressure -- -- as they did in. Previous dates. And the supply disruptions in Jupiter tensions. And then northern Africa Middle East the main reasons why do you believe that -- -- As them up a potential in the medium to rom. Rising to 110 dollar per dollar by -- -- Did you find the IEA report to bash. It's not two Belarusian. And I am. Expects. Or it Demont growth and to accelerate. And -- the two one point one million barrels per day but it's still somewhat lower than previous estimates. And still not enough to absorbed the increase in the non OPEC supplies of this from nuts and -- a lot of you mindful pickle the next year. So OPEC. Must need to cut a production. And to -- -- thirty million Barrett had -- to balance a market based of these estimates. Will will we continue to see nonopec supply increase of the race is increasing. And upcoming. One -- two years it's very likely that the nonopec supply of the continue to rise of things to entries in share oil output in the states and and oil sands production in -- Canada. But. Oil production and in convention. Place. Defense as -- -- also get some. And you was or affect us that those video and -- going full -- I'm the need disruptions that you talked about and in Libya and Iraq clearly there are importantly they -- It. Critical to the several pictures that what what what are people saying now about when this might end and the impact that might have on the price. Suffice impossible to say when this well and it's -- beginning of the week we got you was that. And Libya if I'm close to. Sort of support and Daryn at some MacBook tournaments and but most recently was less promising. Saying that. Put Vista would spill blood to them about oil companies. So it's. Still too early to say that. The problems there -- close and to a full of. Okay strossen thanks for talking with us today constant threats from -- -- bank in Frankfurt. In deal zone today Carlos Slim is looking to snap up the rest of -- token of -- yen. -- automatic removal already owns about 30% of the company it's now offering seven point two billion euros. We'll 2.4 year has shed for the rest of the company to move comes off to Spain's Telefonica made an eleven billion -- -- -- -- Crown -- German mobile phone network plus. Analysts say the velocity plus would cost down on the future of Mobil's European invention to check out the breaking view's -- and -- we did on. Obvious topic cap for some interesting angles earlier on today that is except for must have now joined Droid is every day there this time to -- the -- of the market. -- -- --

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Market Pulse: U.S. shale boom only barrier to oil spike -IEA

Friday, August 09, 2013 - 05:18