Oil Prices Spike More Than $2 a Barrel

Oil Prices Spike More Than $2 a Barrel

There are 1 comment on the The Associated Press story from Aug 7, 2006, titled Oil Prices Spike More Than $2 a Barrel . In it, The Associated Press reports that:

Oil prices jumped more than $2 on Monday, surpassing $77 a barrel following a shutdown at an Alaskan oil field that accounts for about 8 percent of daily U.S. production.

Join the discussion below, or Read more at The Associated Press.


Cortland, NY

#2 Aug 7, 2006
There is STILL oil being found....So why aren't we hearing more of THIS on the news?-- all we hear is the gloom and doom....??


New oil field found in Kazakhstan

AKTOBE, Kazakhstan, July 6 (UPI)-- An oil field with an estimated 20 million barrels has been found in Aktobe, Kazakhstan, by a joint oil venture between Kazakhstan and South Korean firms.

The Yonhap News Agency reports early testing of the new field shows clean reserves with high quality and low water content.

State-run Korea National Oil Corp. and the South Korean LG International Corp. make up nearly 50 percent of a consortium with Kazakhstan companies.

Production of the oil field will begin next year. It is the fourth field in the Aktobe area.

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