Welcome to Tara Oil
Tara Oil is your number one Home Heating Oil Distributor in Limerick and the Midwest for your home heating needs!
The Midwests Leading Oil Company
Visit our new fully automated filling station, open 24/7. The pumps accept cash, credit cards and also feature XMILE premium quality diesel.
The Oil Market Journal
OMJ Daily Edition, 26 November 2014 Summary
ROTTERDAM Oil prices are posting a corrective bounce higher this morning following the sharp losses seen late yesterday afternoon. Prices fell sharply as detailed in our update following a unsuccessful meeting between Russia, Mexico and Venezuela with Saudi Arabia.
It appears that Saudi refused to agree to a production cut and last night the Russia said that "low prices are here to stay for a long time." It is also reported that Mr Igor Sechin, the leading oil executive in Russia said that "Russia can't cut production anyway" and the "price level is not critical for us."
Traders are also bearish following comments from Iran with the Iranian Oil Minister saying "no one can tell Iran to reduce its output." It appears that OPEC is divided and the chance of agreement on a production cut is fading. However, the Angolan oil minister said that "OPEC will achieve consensus" and it is been muted that OPEC will agree for strict compliance of the current quota level of 30m bpd. Prices fell sharply yesterday afternoon.