Harga Minyak di Pasaran Dunia Jatuh Lagi

Harga minyak dipasaran dunia jatuh lagi, maka wajarkah pihak kerajaan menurunkan harga di pasaran tempatan? Mungkin ramai akan mengatakan bahawa ia wajar diturunkan lagi. Tetapi saya berpendapat minyak bukanlah segala-galanya dalam menentukan kos sara hidup masyarakat Malaysia. Harga barang masih tinggi jika hendak dibandingkan dengan 5 kali penurunan yang telah dilakukan oleh pihak kerajaan.

Keuntungan yang diperolehi wajar digunakan bagi pembangunan Negara atau melalui cara yang akan meningkatkan pendapatan rakyat yang berada dibawah.

Jangan besok ada yang mengeluh sekiranya harga minyak naik mendadak disebabkan harga ditentukan oleh pasaran. Saya juga berpendapat biarlah ada sedikit ruang bagi pihak kerajaan bagi memastikan harga minyak di pasaran tempatan stabil.


Crude Oil Tumbles to Lowest Since May 2005 as Recession Deepens


dataCrude oil fell to the lowest since May 2005, trading almost $100 a barrel below its July peak as a deepening recession slows demand for autos and prompts factories to curb output.

Oil dropped for a fifth day, set for a 15 percent decline this week, after U.S. jobless claims jumped more than estimates and Singapore and Taiwan cut their growth forecasts. Toyota Motor Corp. this week reduced North American vehicle production, and Isuzu Motors Ltd. and Hino Motors Ltd. said they’ll make fewer trucks in Japan.

“It’s all driven by fear while the logic suggests a serious slowdown in demand caused by a worsening global economic outlook,” said Toby Hassall, analyst at Commodity Warrants Australia in Sydney. “The market is pricing in a serious slowdown.”

Crude oil for January delivery fell as much as $1.17, or 2.4 percent, to $48.25 a barrel, and traded at $48.97 at 11:55 a.m. Singapore time on the New York Mercantile Exchange. Futures have dropped 67 percent since reaching a record $147.27 July 11.

Oil for December delivery dropped $4.68, or 8.7 percent, yesterday to expire at $49.42 a barrel.

Japan’s economy, the world’s second-largest, will probably shrink this year and next in the first back-to-back contractions since the banking crisis a decade ago, economists say.

Singapore, Asia’s biggest oil-trading center, lowered its growth forecast for a fourth time this year and said its economy may contract in 2009, and Taiwan’s government said yesterday the economy will slide into a recession this year.


Automakers, Energy Stocks

Honda Motor Co., Japan’s second-biggest carmaker said yesterday it is trimming production plans at U.S. factories by an additional 18,000 units. Honda has cut a total of 50,000 units from its U.S. plans since August.

Daihatsu Motor Co. said Nov. 18 it will cut output of engines in Japan, mostly for Toyota’s Hilux Surf SUV, by about 15,000 units to 562,000 for the year ending March.

The MSCI Asia Pacific Energy Index has declined 15 percent this week to 253.92 at 11:30 a.m. Singapore time as oil prices dropped. Woodside Petroleum Ltd., Australia’s second-largest oil company, lost as much as 13 percent.

Cnooc Ltd., China’s biggest offshore explorer, slipped 5.6 percent to HK$4.90, and PetroChina Co., Asia’s biggest company by market value, fell 5.9 percent to HK$5.09.

“At this point for the oil futures market the only real obvious signals are coming from the equities market,” said Victor Shum, senior principal at Purvin & Gertz Inc. in Singapore. “Equity market movements are a proxy for economic fundamentals.”


OPEC Meeting

The Organization of Petroleum Exporting Countries, due to meet on Nov. 29 in Cairo and again on Dec. 17 in Algeria, may lower output by a further 1 million barrels a day this year, extending production cuts agreed to last month, according to a Bloomberg News survey of analysts last week.

The International Energy Agency, an adviser to 28 nations, said last week that world oil demand will rise at its slowest pace for 23 years in 2008. It cut its 2009 estimate by 670,000 barrels a day to 86.5 million barrels a day, the biggest reduction in 12 years.

New York oil futures first traded above $50 on Sept. 28, 2004, in the middle of oil’s six-year rally toward this year’s records. Prices climbed on the strength of oil demand from emerging economies, led by China, the world’s second-largest oil consumer after the U.S.

Brent crude oil for January settlement fell as much as 68 cents, or 1.4 percent, to $47.40 a barrel, and traded at $48.07 at 11:53 a.m. Singapore time on London’s ICE Futures Europe exchange. Yesterday the contract fell $3.64, or 7 percent, to $48.08, the lowest settlement since May 20, 2005.


Investments Cut

The drop in oil prices may cut investment. As many as 44 projects being undertaken by companies including Saudi Arabian Oil Co., Royal Dutch Shell Plc and Petroleo Brasileiro SA have been delayed or faced spending reduction, according to a Nov. 18 report by Morgan Stanley & Co.

Goldman Sachs Group Inc. cut its forecast for the average price of New York-traded crude oil in 2009 to $80 a barrel from $86, adding that it was closing all its trading recommendations for oil.

A price average of $50 a barrel for most of next year is possible if economic and industrial activity in Asia fails to stabilize, the weekly report dated Nov. 19. The bank has cut its 2009 outlook 46 percent since September.



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