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[OPEC] Brasil wants to be memeber of The Oil Cartel
Brazilian President Luiz Inacio Lula da Silva said his country was interested in becoming a member of Organization of Petroleum Exporting Countries (OPEC) after massive new oil reserves had been disco... — -
[OIL PRODUCTION] OPEC-12 pumped an average of 32.77 million barrels per day (bpd) of crude oil in July
An increase of 300,000 bpd on collective production. Platts, the world's leading provider of energy information, said in its latest report that the OPEC-12, excluding Iraq, exceeded their 29.673 milli... — -
[OIL PRICES] The UK´s Prime Minister, Gordon Brown clashes with oil nations over causes of price surge
The last june 22, Gordon Brown today clashed with leading oil producing nations by insisting that fundamental market imbalances, rather than speculative pressures, were driving up oil prices and creat... — -
[OIL PRICES] Global Oil Summit Addresses Issues But Produces Few Solutions
The global energy summit held to discuss rising oil prices explored leaders' different agendas and opinions but offered few concrete results. A summit held June 22 in Saudi Arabia to discuss spiraling... — -
[OIL PRICES] Oil hits new all-time high
The oil price spiralled to a new all-time high today of almost $140 a barrel after worse-than-expected manufacturing data for the world's biggest economy weakened the dollar. A barrel of US crude for ... — -
[UNITED STATES] Oil imports widen US trade deficit
The US trade deficit has hit its highest since September 2005, reaching $60.9 billion in April as a result of a surge in oil imports. The US Department of Commerce said in a report that the difference... — -
[OPEC] Organization of Petroleum Exporting Countries to boost output on market demand
Kuwait's Oil Minister says the Organization of Petroleum Exporting Countries (OPEC) will only boost output when the market requires. "Organization of Petroleum Exporting Countries is prepared to incre... — -
[OIL PRICES] Consumers feel the pinch as analysts predict crude may reach $150 a barrel
Fresh from his mauling in the byelection, Gordon Brown met two leaders yesterday. One was the Dalai Lama; the other, Hamad bin Jasim bin Jabir al-Thani, prime minister of oil and gas rich Qatar, may h... — -
[UNITED STATES] Oil prices gain while pump prices rise to new high
Oil futures crept higher Monday while retail gas and diesel prices reached new records, adding to the pressure on drivers planning road trips for the coming holiday weekend. Americans are now paying a... — -
[OPEC] Organisation of Petroleum Exporting Countries crude output increase ruled out
Iran's oil minister yesterday rejected any idea of Organisation of Petroleum Exporting Countries raising production, saying it would fail to ease record prices as the market was already "saturated" wi... —
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