11th to 12th March 2009, Copthorne Tara Hotel, London, United Kingdom.
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March 10, Wednesday
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ANALYTICS20.01.2009 
Look at the highlighted rows in the following tables. As regards WTI (West Texas Intermediate) and Brent the large contango or forward premium is the order. Furthermore, the difference between the near/front month contract between WTI and Brent shows a $10 difference. This is staggering. It may...Expert opinion19.01.2009 
Gulf Arab countries must start publishing timely and detailed economic data to convince investors alarmed by weak oil prices and the global financial crisis that they are still prime targets for investment.
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Crude oil for March delivery rose 66 cents or 1.6% to $41.50 a barrel on New York Mercantile Exchange after dropping 4.1% to $40.84 a barrel yesterday.
Kuwait, the world’s seventh-largest oil exporter, informed buyers of crude in Europe, U.S. and Asia it would cut crude oil production output from January 22 to comply with OPEC’s December quota cuts, state oil company Kuwait Petroleum Corporation (KPC) said in a statement on Tuesday. 
Crude oil for February delivery plunged below $35 a barrel on New York Mercantile Exchange; it traded $34.08 per barrel, down 6.7% from last week close on concerns that economic turmoil may become worse after the U.K. bailed out banks for the second time in 3 months.
Dubai National Resources World (DNRW), created by Dubai World in 2005, signed $16 billion agreement with the government of Nigeria to develop oil and gas infrastructure in the country. 
A.U.S.-Israeli exploration group announced a discovery of large natural gas deposits in the eastern Mediterranean that has potential to meet Israel’s gas needs for more than a decade and even may allow exportation.
Iranian OPEC governor Mohammad Ali Khatibi warned 21 Asian and European oil customers that it will reduce oil sails in order to comply with production output quota cuts. 
ConocoPhillips, the third-largest US oil company, is cutting 4% of its overall working force or 1.300 employees, reducing its capital spending by 18% and writing off $34 billion in noncash assets. 
The International Energy Agency (IEA) said today that international oil stocks fell by 2 million in November as higher US stocks were offset by lower inventories in Europe and in the Pacific. Preliminary data point to a stock draw of around 8 million barrels in December, IEA said. 
Consortium of two Indian companies Jindal Petroleum and Ensearch Petroleum is planning to invest $150 million in oil exploration in Georgia.
Crude oil prices fell to the lowest level since Dec. 24 after OPEC reduced its forecast for oil demand in 2009 and as US inventories rose.
OPEC lowered its forecast of world oil demand in 2009 by 30.000 bpd, the group said in its monthly oil market report.