Oil Trims Losses on EIA Short-Term Outlook

Source: MarketWatch, Claudia Assis (8/10/10)

"EIA increased its oil price forecast for this year and the next."

The Energy Information Administration on Tuesday increased its forecast for the price of oil this year and the next, to an average of $81 a barrel in the fourth quarter of 2010 and $84 a barrel in 2011, slightly above the agency's last month forecast.

Oil prices trimmed their losses after the EIA report, with the September contract losing $1.28, or 1.6%, to $80.19 a barrel. The agency also forecast that the U.S. is likely alone among developed nations in showing "significant increases in oil consumption" of about 150,000 million barrels a day in 2010 and 2011.

The EIA also slightly increased its projected world oil consumption to 1.6 million barrels a day, compared to 1.5 million the month before. OPEC and non-OPEC supply expectations were also raised, however.

Announcing Streetwise Live! Events
Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.

"China's export quota could be opportunity for Canadian miners"

Mexico: Gold's Next Powerhouse Player
Source: Marc Davis, BNW News (11/03/2009)

As the world's key gold producing nations struggle mostly in vain to replenish dwindling below-ground supplies, Mexico is bucking the trend in a big way.

Where Have All the Gold Mines Gone?
Source: Brent Cook, Exploration Insights (04/14/2009)

Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. . .the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics.

Congo Completes Mining Review, Says Majors Quit Talks
Source: Reuters (12/20/2008)

"Review process is extended an additional 45 days to allow six companies to return to the negotiating table for direct talks with government ministers."