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2015-06-03 18:40:00

FAIR PRICE: $75 - 80

FAIR PRICE: $75 - 80

The top oil officials of Iraq and Venezuela said on Wednesday that $75 to $80 a barrel was now a "fair" price for oil, reflecting an emerging consensus on a possible equilibrium for volatile markets.

Asked for his view while speaking at an OPEC seminar in Vienna, Iraqi oil minister Adel Abdel Mahdi said he believed $75 to $80 was fair.

"We share the same opinion of the minister of Iraq regarding this issue," Venezuela's oil minister Asdrubal Chavez said. Iran's oil minister declined to comment.

Until last year, most members of the Organization of the Petroleum Exporting Countries (OPEC) had gravitated toward a price of around $100 a barrel, but the rapid rise of U.S. shale and other higher-cost oil patches has increased competition, forcing them to rethink what price markets can sustain.

reuters.com

Tags: OPEC, OIL, PRICE

Chronicle:

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2018, January, 22, 08:20:00

RUSSIAN NUCLEAR POWER - 2017

WNA - Apart from adding capacity, utilisation of existing plants has improved markedly since 2000. In the 1990s capacity factors averaged around 60%, but they have steadily improved since and in 2010, 2011 and 2014 were above 81%. Balakovo was the best plant in 2011 with 92.5%, and again in 2014 with 85.1%.

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2018, January, 22, 08:15:00

INDIA'S NUCLEAR POWER - 2017

WNA - India has a flourishing and largely indigenous nuclear power programme and expects to have 14.6 GWe nuclear capacity on line by 2024 and 63 GWe by 2032. It aims to supply 25% of electricity from nuclear power by 2050.

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2018, January, 22, 08:10:00

CHINA'S NUCLEAR POWER - 2017

WNA - Mainland China has 38 nuclear power reactors in operation, about 20 under construction, and more about to start construction. The reactors under construction include some of the world's most advanced, to give a 70% increase of nuclear capacity to 58 GWe by 2020-21. Plans are for up to 150 GWe by 2030, and much more by 2050.

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2018, January, 22, 08:05:00

U.S. - RUSSIA'S NUCLEAR

PLATTS - "The domestic uranium mining industry needs US government assistance to survive the foreign onslaught -- particularly from Russia and Kazakhstan -- that has undermined the US uranium industry while new players -- particularly China -- will soon make the situation worse," Energy Fuels and Ur-Energy said in a petition they jointly filed with the department.

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