Oilgame

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...

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...

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..

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...