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OPEC has reduced its demand forecasts for the rest of 2011 and 2012 as global economy weakens.

China's oil consumption is set for further growth in 2012, but at a slightly reduced rate.

An International Energy Agency report say the outlook for oil and natural gas markets remains uncertain in the mid-term.

Crude prices reach 18-month high; Opec supports price hike and Brazil; Petrobras strengthens Asian exports; Denbury makes $900m sale; and Shell and Chevron celebrate deepwater success.

US base oil and Opec production falls; BP find strength in depth; Libya has a new oil minister and China talks to Uganda.

As oil prices rose throughout June, there was drama caused by a 'rogue' speculator and an interesting exchange of views on mid-term oil investments between OPEC and IEA's former Deputy Executive.