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The Iranian and Venezuelan oil ministers say they will ask major oil export countries to set a minimum $100-a-barrel price during a meeting in Austria Tuesday.
According to Al-Sharq Al-Awsat newspaper (September 7, 2008), the U.S Energy Ministry estimated the oil production volume by the OPEC states (Organization of the Petroleum Exporting Countries) at 32 million barrels per day in July 2008. The per barrel oil price amounted to $112.2 in the same period.
Iran to pursue fair oil price at OPEC meeting: official TEHRAN, Sept. 6 (Xinhua) -- Iran said Saturday that it will pursue a fair oil price at the upcoming meeting of the Organization of Petroleum Exporting Countries (OPEC), local English-language Press TV satellite channel reported.
By Jad Mouawad The decline in oil prices has been a relief for consumers and a rare piece of positive news in a bleak economic landscape. But for oil producers that have grown accustomed to rising revenue, falling prices are turning into a cause for concern, if not quite panic.
By Jad Mouawad The decline in oil prices in recent weeks has been a welcome relief for consumers and a rare piece of positive news in an otherwise bleak economic landscape.
By Watkins, Eric Chakib Khelil, president of the Organization of Petroleum Exporting Countries, while acknowledging that Indonesia has played an important role since joining the organization in 1962, said its plan to withdraw from the group is a "sovereign" decision.
By Snow, Nick Expectations that supplies will continue to dwindle while demand keeps growing have pushed crude oil prices dramatically higher since the beginning of 2008, two leading energy analysts told US senators.
Iran's oil minister Tuesday said the Organization of Petroleum Exporting Countries should discuss reining in excessive oil production.
BEIJING, Sept. 2 /Xinhua-PRNewswire/ -- International oil prices fell back from last month. The future price of raw oil ( http://www.tootoo.com/buy-_raw_oil/ ) on the New York market even reached to $147.42 per barrel on July 11th, the highest price in history. However, it has fallen about 25%.
By Nevill Boyd Maunsell Economics Editor As the third anniversary of Hurricane Katrina's devastation of New Orleans approaches tomorrow, fears that a new hurricane could wreck oil rigs in the Gulf of Mexico sent oil prices sharply higher.
- A pivoted catch designed to fall into a notch on a ratchet wheel so as to allow movement in only one direction (e.g. on a windlass or in a clock mechanism), or alternatively to move the wheel in one direction.