Tag - OPEC
Unstable oil prices are dithering major economies as recently U.S. crude oil prices surged to record highs of $78.77 before falling to around $72.
America urges OPEC to boost production to keep the tempo of oil prices stable, but Venezuela's oil...
Developing economies are trying to satiate their growing demand by digging new reserves and exploring alternatives, but all seems in vain as energy watchdog, International Energy Agency stated that within five year, world will face acute shortage of...
With the world facing some major oil crisis, now is an excellent time to produce more oil. Otherwise, the gas prices in the US as well as throughout the world is more than likely to skyrocket in coming years. Keeping this in mind, OPEC was asked to...
Oil prices are surging incessantly, thanks to political mishmash among the oil producers.
Currently, oil is available at $75.57 a barrel and it is highly anticipated that very soon it will cross the three digit marks. The Goldman Sachs Group has...
Increasing budget for the future’s energy source ‘biofuels’ has spurred the din among the oil producer and looking for the measure to combat with the forthcoming problems. Oil producers have pulled out their plan to increase...
Iranian oil minister asserts that OPEC won't release more oil into the market ahead of its next policy meeting in September as markets have sufficient crude oil reserve, whereas Saudi Arabia decides to keep its shipment volumes steady.
Iranian...
The whole world is battling with the mounting oil prices. Refineries profits are digging, automakers has experienced biggest slump. Rising oil prices has become biggest reason for slanting inflation, which has tattered many economies. National banks...
U.S. gasoline prices raised to a record $3.10 a gallon topes all time high $3.07 a gallon in September 2005 after Hurricane Katrina disrupted refinery operations and oil production along the Gulf Coast. The price increased for regular unleaded...
The International Energy Agency has warned of a summer of worries in global oil and products markets unless the Organization of Petroleum Exporting Countries introduces a substantial output increase shortly. In its closely watched monthly...
Fall in demand for oil is a bit of an oxymoron. Yet, OPEC ministers are losing their sleep over increasing in the global efforts to reduce dependence on oil. In a recent statement, OPEC has warned that it may respond to efforts of curbing oil demand...
The Gas Exporting Countries Forum (GECF), at its first meeting in last two years, decided to set up a group of experts to study how to strengthen the group, which has so far exercised very little power. The move is widely perceived as a step...
The much debated 'gas OPEC' is not expected to be formed during the Qatar-host Gas Exporting Countries Forum (GECF) starting from Monday. However, discussions of such a cartel seem to be on top agenda of the meeting. The Doha meeting, the sixth...
OPEC oil ministers have decided on Thursday to maintain crude production at existing levels. The organization noted that prices around $60 a barrel is appropriate and expressed satisfaction over available supplies ahead of the high-demand American...
Speculations are high that the Organization of Petroleum Exporting Countries may urge its members to comply with production limits when it meets today in Vienna to maintain crude prices around $60 a barrel. However, the organization's ministerial...
Oil prices shot up once again on Tuesday as the United States and its allies maintained pressure for tougher sanctions to curb Iran's nuclear program. Oil prices reached as much as $62.16 per barrel in London and $62.65 in New York. At the same...
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