The New York Times: Oil Prices Rise Again As Production Lags
“…one factor that may have contributed to Friday’s rise in prices was violence in Nigeria that forced Royal Dutch/Shell Group, which accounts for roughly half the country’s daily exports of 2.5 million barrels, to evacuate two oil facilities.”
By THE ASSOCIATED PRESS
Posted 26 September 2004
NEW YORK (AP) — Oil prices neared $49 a barrel Friday, capping a rise of 7 percent for the week, as Gulf of Mexico crude production rebounded at a slower-than-expected rate in the wake of Hurricane Ivan.
Light crude for November delivery rose 42 cents to settle at a new high of $48.88 per barrel on the New York Mercantile Exchange. The price of oil is up 73 percent from a year ago.
The federal Minerals Management Service reported Friday that daily oil production in the Gulf remains 27 percent below normal at about 1.2 million barrels per day — the same level as Thursday. The agency said 10 million barrels of oil, the equivalent of 1.7 percent of annual production in the region, have been lost since last Monday, when offshore producers began evacuating crews.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
