Oilgame

OPEC has decided to cut down its output by millions of barrels per day. Presently the decision is under consideration. Such steps are taken to maintain difference between what the world consumes and what it is able to produce. Main aim of OPEC is to...

To overcome the oil crises and monopoly of OPEC one should know that there are 71 million barrels of oil waiting to be discovered in the deep water of mexico sea. There are another 85 billions barrels off coast of N.Africa and the water that...

We now come to the events that led to the current problems for OPEC. Remember when looking at this problem that OPEC or any other cartel faces two problems in their attempts to control prices. The first problem is to determine the level of production...

Venezuelan President Hugo Chavez urged OPEC countries to stop trading in dollars in order to end the dictatorship of this currency. However, Iran is already selling oil in euros in place of dollars. Obviously selling oil in euros would definitely...

Grappling over oil politics is relentless in this world. In a new twist in the game, at one hand U.S. and other oil-consuming nations have requested OPEC, which produces almost 40 percent of the world production, to expand out put to ease the world...

In a time when the world is panic-stricken due to spiking oil prices, Venezuelan President Hugo Chavez is likely to go for a cut in oil production. In the run up to the OPEC meeting, this can sent shock waves to many countries fearing a drop in the oil...