Banks In The Oil Trading Business.

From the Huffington Post

A $100 Million dollar payoff to a Citigroup oil trader has many angry about banks and oil speculation.

The Great Shutdown Continues In Cuba.

Not much new here in this Cuban economy update from AP...except some speculation by Cuba-watchers.

Is Cuba selling some of its Venezuelan-subsidized crude...on the open market?

Also news that Sherritt...is finally getting paid.

Plus reports of a severe yogurt shortage. Is that the nutritionally important and widely available soy yogurt...sold for 3 pesos (moneda nacional)...or a real milk-based product..that is outrageously priced and has only been available in chavito stores? The report is...unclear.

Pemex To Miss Crude Oil Output Goals.

From Bloomberg.

"Last year, Pemex’s output fell at the fastest rate since World War II, costing it more than $20 billion in potential sales amid record crude prices. Pemex cut its forecast three times last year as its then-largest field, Cantarell, dropped more than twice as fast as government predictions."

Oil Prices Decline as Recovery Hopes Dim.

A nice oil news summary from...the NYTimes.

Cuba Hopes To Explore and Drill 11 New Oil Wells.

From The Latin American Herald Tribune.

Mexico's Oil Revenues Fall 10.3%...Despite Hedging.

5-Year Global Demand for Oil... to be Sluggish.

The International Energy Agency predicts global demand for crude oil... for the next five years... will be lower than forecast... because of sluggish economic growth.


http://www.nytimes.com/2009/06/30/business/energy-environment/30oil.html?ref=todayspaper

China's Recent Commodities Buying Spree...Not Sustainable

China's recent commodities buying spree...that has sent prices higher this spring... is not sustainable...say experts.

Could that finally slow the price rise of oil and other commodities?

http://www.nytimes.com/2009/06/11/business/economy/11commodity.html?scp=6&sq=china&st=cse

Venezuela Shipped Cuba 32% More Oil in 2008.

Venezuelan President Hugo Chavez's Cuba oil bartering program grows...unabated!

Up 32% in 2008...despite Cuba's severe fiscal problems.

http://www.bloomberg.com/apps/news?pid=20601086&sid=aF1c3msgLdjg

Cuba is also reported to be Cuba's # 2 export:

http://www.reuters.com/article/bondsNews/idUSN1049707420090610