Ja na semana passada chamei a atençao para este fenomeno, a subida do preço do petroleo. Agora atingiu o maximo de 12 semanas, ja acima de 30 dolares, o que pressiona as margens de lucro das industrias. Atençao a este facto, que podera trazer fortes dissabores.
Oil prices hit 12-week high
U.S. crude price increases come ahead of OPEC meeting that will examine production cuts.
June 9, 2003: 3:23 PM EDT
NEW YORK (Reuters) - Oil prices hit 12-week highs Monday as members of the Organization of the Petroleum Exporting Countries cartel gathered for a Wednesday meeting against a backdrop of tight global supply.
U.S. crude oil in New York rose 20 cents to $31.48 a barrel to close at its highest price in 12 weeks after rising 20 percent in barely a month. Brent crude in London rose 9 cents to $27.87 a barrel.
OPEC ministers meeting in the small Middle East emirate of Qatar will debate whether they need to cut production to accommodate the expected resumption of Iraq's oil exports this month.
With prices nearly 30 percent higher than a year ago and Iraq's exports expected to stay below prewar limits for up to a year, some OPEC ministers have said there seems to be no need for the group to rein in supply.
OPEC, which controls around half the world's crude exports, aims to keep prices in a $22-$28 a barrel range for its basket of crude oils. The basket was last valued at $26.77.
"There is no urgent need for the organization to modify its output," said Frederic Lasserre of SG Securities in a report.
"Iraq is still not in a position to harm the balance of supply and demand. Inventories are rising in line with the season but in absolute terms remain very low," Lasserre added.
After falling heavily from 12-year highs near $40 after Middle East oil facilities escaped damage from the U.S.-led invasion of Iraq, oil prices have returned to levels that can further undermine already weak economic growth.
OPEC will use this week's meeting to press independent exporters such as Russia, Norway and Mexico to back any supply cuts needed later this year, OPEC President Abdullah al-Attiyah of Qatar said.
Iraq this month will sell its first crude since the U.S.-led invasion in mid-March, tendering 10 million barrels, allowing it to deliver an average of about 750,000 bpd during the second half of June.
Sabotage at oil facilities since the war will keep exports down to 1 million bpd in July, Iraq's de facto oil minister Thamir Ghadhban said Monday. Before the war, Iraq was producing about 2.5 million bpd and exporting 2 million bpd.
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