That stock News

Cold weather forecasts in America and Europe as the United States can extend measures stimulus - weakening of the dollar and boost the appeal of commodities as an alternative investment - week last speculation driven by price of oil to a maximum of two years.

The restoration of the fragile global economy and supplies further will, however, prevent the award of the arrow, OPEC said in a statement Saturday.

"Right now the market is very comfortable for consumers," Abdulla El-Badri, the Secretary General of OPEC, said at the meeting in Quito (Ecuador). OPEC has 6 m to 7 m barrels of spare capacity per day, Mr. El-Badri said, and he acted to increase production until the decline of these levels.

"The question they have watched was $90 is a blip or a trend," stated Bill Farren-Price, founder of consultant Petroleum Policy Intelligence, told Bloomberg. "They took notice that there are one-time factors such as the snap cold, a weak dollar, which stand in the new year."

The "increase in annual average oil demand in 2011 is likely to be lower in 2010," said OPEC. Lower demand will accompany "difficult risks to the global economic recovery, including the negative effect of possible conflicts of the currency and fears of a second banking crisis in Europe, which would have a negative impact on the demand for oil."

Saudi Arabian Oil Minister Ali al-Naimi said that the supply and demand are "balance", and $ 70 to $ 80 is "a good price" for oil.

World oil demand growth is expected to slow 1 2 8pc 6pc in 2011 this year, according to the International Agency for energy.

OPEC has kept the limits of production at 24.845 million barrels per day since December 2008, when he announced larger reduction in quotas output never demand collapsed and prices collapsed at the beginning of the global economic crisis.

OPEC provides 40pc of oil in the world. The next scheduled meeting is in June at the siege of Vienna from OPEC.

"If they begin to produce significantly more, implicitly or explicitly start sending a signal on the market that they want to stop the price,"said Mike Wittner, head of research of the oil company market General SA in New York.""

"They seem to have enough oil, inventories are still high and crude stocks especially to the United States are still very much.

View the original article here