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Bloomberg – 3/6/2009
March 6 – Oil may rise 35 percent to $60 a barrel should OPEC agree to cut production this month, according to BlueGold Capital Management LLP, the London hedge fund that returned 31 percent this year on energy trades.
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Chris Kahn, AP Energy Writer – 3/6/2009
Oil above $45; many think bottom may have been hit
Oil closes above $45 for second time in a week leading some to call bottom for market
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Bloomberg – 3/9/2009
OPEC’s record production cuts are draining the glut in world oil markets, leading traders to bet that $50 crude is two months away.
Ever since oil began its 69 percent plunge from a record $147.27 a barrel in July, traders have been looking for a bottom. Now that the Organization of Petroleum Exporting Countries reduced supplies 13 percent since September, inventories are falling 1.4 million barrels a day, according to PVM Oil Associates Ltd., the world’s biggest broker of energy trades between banks. OPEC will limit.
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Bloomberg – 2/17/2009
Russia agreed to supply China with oil for 20 years in return for a $25 billion credit, as the world’s largest energy producer seeks to expand its presense on East Asian markets.
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Rocky Mountain Collegian
Nearly every piece of clothing we wear is either made from or processed with oil, CSU geosciences professor Sven Egenhoff said.
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The Denver Channel
A Weld County discovery well has the Colorado energy community buzzing after it came in at 1,770 barrels of oil in 24 hours — far eclipsing the normal 100-150 barrels of oil a day that most Weld County wells produce.
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The Tribune
Weld County is posturing for a new oil boom and a new pipeline recently put into operation is a big part of the reason for the boom.
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Leland Energy Video Presentation
Your American Birthright: Investing in Oil & Gas
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