Related Blog Posts
OPEC production quota may not be tight enough
19 hours ago ago from FP Trading Desk
The Organization of the Petroleum Exporting Countries (OPEC) was having a little trouble controlling oil prices Tuesday, which they traditionally do to ensure industrialized countries don’t buy their oil at low prices then sell back oil products at inflated prices. OPEC agreed to keep its daily oil production at 24.84 million barrels Tuesday, but Saudi Oil Minister Ali al-Naimi said he was worried about participating countries not ...
Related contentOil Production Is Up Worldwide
26 minutes ago ago from Gold Makers University
Image by Barrybar via Flickr Worldwide oil production is up which, according to supply and demand, would drive prices down. OPEC is determined to keep oil prices between $70-$80 a barrel. They will have a harder time doing that now that other countries are producing oil and the US even has a surplus. Falling Oil Demand Terrifies OPEC, Spurring It To Restrict Production Falling oil demand from the world's developed nations ...
Related contentRevealed: Opec's fears that rich countries' appetite for oil is waning
16 hours ago ago from Middle East (UAE and GCC) Finance and Investment News
The Opec oil cartel has repeated it through the year: as a contribution to the global economy recovery, it was supporting moderate oil prices. Saudi Arabia put numbers on the cartel's words, describing the $70-$80 a barrel range as . For sure, Opec's aim of $70-$80 a barrel the group avoid talking about a target has helped the global economy, particularly of poor oil importing countries. But there are signs that the oil cartel is not as ...
Related content* Iran has been a "Nuclear Power" For Years
21 hours ago ago from Letters from Mr. Sunshine
Everyone feels a need to state the obvious towards the end of a year, and I'm not going to break with tradition - sunny For the past few years there has been a lot of talk about Iran’s nuclear program. Recently, there seems to be been an increase in chatter about an Israeli strike on Iran’s nuclear facilities, a “proxy strike” on the behalf of the USA that, when looking at the facts, we should fervently hope is not carried out. In the ...
Related contentOPEC's Ministers Keep Oil Output Unchanged
23 hours ago ago from BloggingStocks
OPEC oil ministers agreed to keep production unchanged . Saudi Arabia has made it clear that it does not want oil prices to fluctuate too much, fearing that it would stunt the fragile recovery of world economic growth. They want to keep prices in the $70 to $80 per barrel range. The key problem for OPEC is adherence to output quotas. At present, member adherence is about 60%. Oil demand is on the weak side. Edward Meir of MF Global said: ...
Related contentRelated News
Considering the crazy: will $30 barrels of oil come back?
20 hours ago ago from AutoblogGreen
While it's certainly possible to run automobiles on natural gas instead of gasoline (see the Civic GX ), there is a decided lack of natural gas vehicles in the U.S. This might become a problem that needs solving, quick, if an analysis in Ground Report turns out to be accurate. The fear? That the price of oil will plummet from its current price of around $70-$75 to $30. Analyst Paul Sterne suggests that because natural gas prices are low, ...
Related contentGE Oil & Gas, Qatar Petroleum sign deal
22 hours ago ago from U.S. News
GE Oil & Gas, Qatar Petroleum sign deal HOUSTON (AP) -- GE Oil & Gas and a subsidiary of Qatar Petroleum said Tuesday that they have signed partnership deals that the companies say will bolster GE Oil & Gas' pipeline business in the Middle East and help Qatar boost oil and gas capacity. Under the first agreement, Al Shaheen Energy Services will become a 50 percent partner in GE Oil and Gas' PII Pipeline Solutions business that provides ...
Related contentFinally, a Replacement for 'Big Oil'?
18 hours ago ago from BloggingStocks
Can any fuel form make a serious run at oil use in the U.S. in the decade ahead? Natural gas might -- largely as a result of natural gas' abundant domestic supply, if new drilling techniques are deemed environmentally safe. Briefly, the new techniques -- including one called 'hydraulic fracturing' -- enables natural gas suppliers to profitably access more gas than before. As a result, the Potential Gas Committee says the United States now ...
Related contentOil steady near $73
23 hours ago ago from CNN Money
TRADING CENTER Oil steady near $73 By Blake Ellis, contributing writer December 22, 2009: 12:09 PM ET NEW YORK (CNNMoney.com) -- Oil prices continued to hang near $73 a barrel on Tuesday after the government released its final revision of third-quarter GDP and OPEC left oil output targets unchanged. Crude oil for February delivery fell 33 cents, or 0.5%, to $73.39 ...
Related contentRelated Videos
Nothing to see... move along.
