Rig rates down by 10 per cent
The current global credit crisis and an over 63 per cent fall in crude oil prices in the last four months have resulted in oil companies drilling fewer wells in offshore areas. For full story, click here
Articles Tagged "rate"
Oil prices advance post rate cuts in China, US
Prices extended gains after interest rate cuts in the United States and China, which boosted expectations of higher demand; Michael Davies, analyst at the Sucden brokerage, said: Oil futures were higher on the back of yesterday’s US and Chinese rate cuts, which should help boost economic recovery. The weakening US dollar amid the rate cut also boosted [...]
Crude Oil Rises above $70
The prices rose above $70 a barrel for the f1st time in a week on speculation that the interest rate cuts in the U.S. and China may spur a global economic recovery and increase demand. Toby Hassall, analyst with Commodity Warrants Australia, said: The Fed delivered their expected rate cut and that’s another boost for the [...]
