Oil Price Below US$30?

skrg ni minyak dah jatuh bawah US$60 kan..nampaknya ada possibility akan jatuh further..on one side maybe bagus utk kita sbg consumer yg mana harga minyak akan diturunkan..

tapi on the other hand..msia export lagi byk dari import..maksudnya income negara akan berkurangan..padahal haritu budget utk tahun 2009 dibuat berdasarkan harga minyak US$125 kalau tak silap aku lah...so mana nak dtg lagi duit utk perbelanjaan yg dah dirancang tu? wallahualam..harap2 kerajaan kita bijak menangani semua krisis yg akan dtg

Traders bet on US$30 oil as Opec plans talks on output

DALLAS: Oil traders made their biggest bet yet that the Organisation of Petroleum Exporting Countries (Opec) will fail to prevent crude prices from plunging below US$30 (RM108) a barrel.

Trades in crude-oil options contracts that would allow the holder to sell oil for February delivery at US$30 a barrel reached 1,407 on the New York Mercantile Exchange yesterday, making the contract the day's second-most active, exchange data show.

Opec, the supplier of about 40% of the world's oil, plans to meet Nov 29 in Cairo to discuss another output cut after crude oil touched US$54.67 a barrel, a 21-month low, yesterday. The 13-member organization cut production by 1.5 million barrels a day at a meeting in Vienna last month.

How Low Can Oil Price Go Down

dulu naik laju je harga minyak sampai usd 140 plus per barrel skrg dah tinggal setengah je kan...kalau lah dulu gomen tak berebut2 naikkan harga minyak harga barang pun takkan naik..tapi skrg harga minyak turun pun harga brg still maintain jugak..

VIENNA, Austria - Oil prices fell to a 14-month low Thursday as bad U.S. economic news stoked fears that a significant global economic slowdown will undermine demand for crude.

Concerns over the economy overrode growing expectations that the Organization of Petroleum Exporting Countries could opt to cut back production in an effort to shore up prices.

By mid-afternoon in Europe, light, sweet crude for November delivery was down US$1.07 to US$72.10 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. Earlier in the session, prices fell as low as US$71.21.

The contract fell overnight US$4.09 to settle at US$74.54, the lowest settlement price since Aug. 31, 2007.

Oil prices are now half of the peak they reached in mid-July.

Investors are beginning to anticipate an output cut by the Organization of Petroleum Exporting Countries at its next meeting in November in a bid to boost prices, Moore said.

OPEC said in a report Wednesday that oil consumption dropped in developed countries by more than 1 million barrels a day in September compared to the same period a year earlier. Demand growth from developing countries increased by a daily 1.2 million barrels over the same time, OPEC said.

"OPEC may try to take some action," Moore said. "It's quite likely they will adjust lower their production targets."

In other Nymex trading, heating oil futures fell 0.53 cent to US$2.1852 a gallon, while gasoline prices decreased by nearly 4 cents to US$1.7450 a gallon. Natural gas for November delivery rose by 3 cents to US$6.62 per 1,000 cubic feet.

In London, November Brent crude fell US$1.05 to US$69.75 a barrel on the ICE Futures exchange.68.0000

Inilah Kesan Kenaikan Minyak hahaha..

haha kelakar siot tgk gambar nih....


gambar ni dipetik dari lawakjenaka.com