Latest Organization of Petroleum-Exporting Countries Stories

VIENNA, Austria, Oct. 27 /PRNewswire/ -- If there were such a thing as a process server's academy award, Freedom Watch Chairman and Chief Legal Counsel Larry Klayman most likely would be nominated for one. ( http://www.freedomwatchusa.org/ ). After thwarted by OPEC security from serving his complaint charging the cartel with illegal price fixing, market division and collusion in agreeing to lower oil production, Klayman sprang out from a line of TV press to serve a complaint on an unwitting...

Ministers from major oil exporting countries Friday in Vienna said they would cut their collective production quota by 1.5 million barrels a day. The Organization of Petroleum Exporting Countries said supplies were high and demand had fallen, calling for a cut to prop up prices, which have dropped 57 percent from the record price set in July. Prices hit $147.27 a barrel July 11 and fell Friday morning, in spite of the production announcement, to $63.27 per barrel. "Oil prices have...

Budget burdens among members of the Organization of Oil Exporting Countries may sway the group's production decision in Vienna Friday, analysts said. PFC Energy, a industry consultant group in Washington, said Qatar, one of the smallest OPEC nations, could get by with oil at $10 a barrel, while Iran needs prices to average $100 a barrel, the Financial Times reported Tuesday. Saudia Arabia, the largest exporter in the group, requires $50 per barrel oil prices. Investors are expecting a...

By David J. Lynch The recent plunge in oil prices threatens to trigger unexpected financial headaches for top producing nations, especially Iran and Venezuela. No major oil producer is in immediate danger of slipping into the red. But if the decline in oil prices -- they're down more than 50% since July -- isn't reversed, several could soon confront politically problematic belt-tightening. "The world has changed in the last month or so," says Mohsin Khan, the International Monetary Fund's...

By Barbara Hagenbaugh WASHINGTON -- Citing a deteriorating world economy, OPEC on Thursday called a special meeting for next month to consider options. The announcement suggests the cartel will likely cut production in a bid to put a floor under rapidly falling oil prices. But given the weakening economy, which likely will lead consumers and businesses around the globe to further reduce oil consumption, the Organization of Petroleum Exporting Countries will have a hard time reversing the...

Excerpt from report by corporate-owned Russian news agency Interfax Moscow, 8 October: Leading gas exporting countries are not yet going to set up a gas trading structure similar to OPEC, Russian First Deputy Foreign Minister Andrey Denisov has said. Work is under way at the Gas Exporting Countries Forum (GECF), he said. "At the moment, we are studying various ways to develop the forum further. However, none of them provides for the creation of an OPEC- like international cartel," Denisov...

WASHINGTON, Oct. 6 /PRNewswire-USNewswire/ -- The Abraham Energy Report today issued a special report to subscribers providing analysis on falling oil prices which dropped below $88 a barrel on Monday. A special Web-only bulletin from the Abraham Energy Report (AbrahamEnergyReport.com) advises subscribers that falling oil prices are due to the slowing world economy and unprecedented lower demand but "it doesn't seem likely that OPEC will take concerted action to defend prices at this time."...

MIAMI, Oct. 6 /PRNewswire/ -- In response to the economic crises rippling across America, celebrated Freedom Watch attorney Larry Klayman today announced plans to hold a news conference on Oct. 23 in Vienna, Austria at the headquarters of what he calls the "conspiratorial roots" of the current worldwide financial disaster -- OPEC. There in front of OPEC headquarters, Klayman plans to hold up a gas pump nozzle he calls a "smoking gun" that ties OPEC to the current financial crisis in...

MIAMI, Oct. 6 /PRNewswire/ -- In response to the economic crises rippling across America, celebrated Freedom Watch attorney Larry Klayman today announced plans to hold a news conference on Oct. 23 in Vienna, Austria at the headquarters of what he calls the "conspiratorial roots" of the current worldwide financial disaster -- OPEC. There in front of OPEC headquarters, Klayman plans to hold up a gas pump nozzle he calls a "smoking gun" that ties OPEC to the current financial crisis in...

Russia should actively influence world oil prices, Energy Minister Sergey Shmatko has said, Interfax news agency reported on 25 September. "The Russian delegation has recently attended an OPEC meeting. I want to tell you what we have discussed with many members of our delegation: Russia should actively deal with the issues of influencing the level of the current oil price market, a certain Russian factor should appear," Shmatko said. "We believe that we occupy such a significant place in the...