Oilgame

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...

Qatar schedule to host the meeting of major Gas Exporters countries in April, which has 14 member and hold 70 percent of the total world's reserves, aims to shape another group along the lines of the Organization of Petroleum Exporting Countries...

Russian president Vladimir Putin has recently indicated that Russia is interested in creating a 'gas OPEC' to organize supply activity and to ensure energy security. However, despite Putin's insistence that the organization will not be a cartel...

OPEC countries are rallying again to discuss further cut in oil production which would mark the second time in the past three months. However, speculations are high that the probable cut in oil production will not come into effect immediately....

As winters had approached US, the cold climate is giving rise to demand of oil as well its price. Oil is used as a major heating fuel, especially in the cold regions of U.S. Therefore when there is rise in demand and decrease in supply it is obvious..

Year before it was forecasted by OPEC that oil will reach up to $76 a barrel, but it was inverse as they were expecting. Instead of rise the price went down to $58.74 yesterday. Due to such unexpected changes, OPEC members have decided to lower down...