The international crude price slips 1.7 percent to below $70 per barrel owing to the death of the dreaded al-Qaida leader Abu Musab al-Zarqawi in Iraq. The crude supply from Iraq had been restrained due to the frequent attacks and instability, but the...
Tag - Politics & Society
International crude oil prices rose to touch the highest price in recent times as Iran threatened to disrupt oil supply flowing through Persian gulf that supply as much as 20 percent of the world's oil. Iran's supreme leader Ayatollah Ali Khamenei...
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...
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