NEW YORK, May 14- Oil producers in the United States could slow drilling if prices drop below $70 a barrel, which would make such operations uneconomical, the head of the Energy Information Administration said on Tuesday. A decrease in U.S. prices could prompt a cut in OPEC production, Sieminski said, in an attempt to raise the value of oil.
NEW YORK, May 14- Brent crude oil fell on Tuesday after a leading energy watchdog forecast the supply-demand balance of world oil supplies would be "more comfortable" over the next five years. The International Energy Agency said rapidly increasing non- OPEC oil output would meet most of the world's extra oil demand over the next few years.
*IEA steeply raises non- OPEC supply forecast. *OPEC will barely have to raise output in next 5 years. LONDON, May 14- Rising U.S. shale oil production will help meet most of the world's new oil demand in the next five years, even if the global economy picks up steam, leaving little room for OPEC to lift output without risking lower prices, the West's energy agency said.
*IEA steeply raises non- OPEC supply forecast. *OPEC will barely have to raise output in next 5 years.
*Oil flow on Kirkuk- Ceyhan pipeline resumes- sources. *OPEC, before meeting, sees higher oil demand for 2013. SINGAPORE, May 13- Brent futures slipped towards $103 a barrel on Monday as the dollar stayed firm, with renewed worries of a slowdown in demand growth from the world's top oil consumer the United States further weighing on sentiment.
TRIPOLI, May 12- British oil company BP said it is withdrawing some non-essential staff from Libya after Britain's government warned about deteriorating security in the capital Tripoli. Despite concerns raised by international oil firms operating in the OPEC producer, Libya has said foreign security will not be allowed at its oil fields.
*OPEC boosts 2013 oil demand forecast. NEW YORK/ LONDON, May 10- Crude futures on both sides of the Atlantic lost ground on Friday as rising fuel supplies and a stronger dollar put oil under pressure. By 12:39 p.m. EDT, Brent futures were $1.81 lower at $102.66 a barrel, after falling as to a low of $101.56.
*Raises demand for OPEC crude forecast by 90,000 bpd. *OPEC sees downside risk to 2013 oil demand growth. LONDON, May 10- OPEC will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year, signs of a stronger market that argue against any calls for supply restraint when the group meets on May 31.
LONDON, May 10- OPEC will need to pump more oil than previously thought to balance the market in 2013 and expects global consumption to be much higher in the rest of the year, the group said in a report ahead of its meeting to set policy on May 31.