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Organization of Petroleum Exporting Countries oil ministers met Sunday in Vienna amid a continuing fall in global demand for oil, observers said. The oil ministers were expected to grapple with whether to cut production again, which would be the fourth production cutback in six months, or risk another sharp drop in oil prices, which have fallen from $147 to $45 per barrel since summer, the BBC reported. OPEC faces a dilemma if it moves to institute another production cutback, analysts say,...
An Organization of Petroleum Exporting Countries official said OPEC members had complied 80 percent with September's 4.2 million barrel per day quota cut. Moussa Marafi, a member of OPEC's Higher Petroleum Council, said compliance would be higher once existing contracts had run their course, the Kuwaiti news agency KUNA reported Monday. Marafi also said another 1 million barrel per day production cut would push the price of oil above $50 per barrel by the third quarter of the year. Public...
"Congress Should Pass NOPEC Protections Immediately," Says John W. Rich, Jr. GILBERTON, Pa., Feb.
De Beers debuts DUO ring in honor of BRIDES 75th Anniversary NEW YORK, Feb. 6 /PRNewswire/ -- In an inaugural partnership, De Beers will debut a unique Diamond Engagement Ring in honor of BRIDES 75th Anniversary.
Hollywood may at last be joining the ranks of Napster and other companies who are fighting back in the battle against what some companies call "digital theft."
OPEC Secretary General Abdalla Salem El-Badri told world leaders in Switzerland that oil priced at $50 a barrel would not fund new oil field development. I hope the price will pick up â€¦ a $50 price will not permit us to invest, he said at the World Economic Forum in Davos, Switzerland, Thursday, The
Crude oil prices slid on the New York Mercantile Exchange overnight as traders assessed the impact of an oil cartel's production cuts. The Organization of Petroleum Exporting Countries vowed to cut production by 4.2 million barrels per day in September.
Saudi Arabia's oil minister Ali al-Naimi said the world's largest oil exporter would reduce production beyond its quota agreement to prop up prices. Analysts expect the Saudis to cut production by 300,000 barrels per day below the reduction it agreed to as a member of the Organization of Petroleum Exporting Countries, The New York Times reported Monday. OPEC production cuts appear to be influencing prices.
Leader in Coal to Liquid Effort Says OPEC Policies Are Ill-Advised GILBERTON, Pa., Dec. 17 /PRNewswire-USNewswire/ -- In response to the announcement from OPEC that oil producing companies will cut oil production to force oil prices to remain high, John.
- The governor of a province or people.