OIL production and OPEC situation can give you good clue about where is it headed and why Reliance is bidding high on Bessel
About sandeep maheshwari
All of these are drilling oil for India's future. If they strike OIL , shareholders become rich if not they go nowhere.So where should I put money ?
I am sure that oil price will go higher in future. Middle east will remain unstable and nuclear development by Iran could create more tension between Israel and other neighbor. Any tension in middle east will take OIL prices to record high. Of course these are my predictions.
About rahul das
You don’t become one of the world’s largest and most profitable companies by making dumb moves. Exxon Mobil (NYSE:XOM) proves it once again.
XTO shareholders are partying thanks to news that Exxon is printing some $31 billion worth of new shares in order to purchase XTO Energy (NYSE:XTO), one of the nation’s natural gas producing giants. It’s a major deal that has hearts skipping across a variety of sectors.
As per this reports Oil prices are going high as the Federal Reserve began a two-day policy meeting on interest rates.
It rose by USD 1.47 to settle at USD 79.60 on the New York Mercantile Exchange.
Gasoline for November delivery gained 1.32 cents to settle at USD 2.0035 a gallon and heating oil gained 2.73 cents to settle at USD 2.0733 a gallon.
Reliance has failure in getting enough gas in KG-D6 well , hardy is out. Now company says that it will drill three more wells in the Krishna Godavari basin block where the first exploratory well was abandoned due to poor gas find, as per reports in Business Standard.
Drilling is an expensive operation and cost thousands of crores any miss in drilling could cost company a big fortune. It needs to be seen how it plays out for Reliance Industries Ltd this time.
Company stocks are not expected to outperform even though OIL prices are flirting with $81.
Global economic recovery pulling OIL prices with it at yearly high . Crude oil rose for a seventh day to $78 a barrel after jumping more than 3% yesterday
The price of Oil in NY jumped today above $75/brl the highest level so far this year.New York's main contract, light sweet crude for November delivery soared to USD75.15 per barrel, which was last seen on October 20, 2008.
Brent North Sea crude for November delivery advanced 69 cents to USD73.09 a barrel today.
Foreign exchange and growing optimism about economy is driving oil to again on glory days.