News on OPEC (Organization of the Petroleum Exporting Countries) continually updated from thousands of sources around the net.
In recent months, the U.S. government has been flexing its economic muscle by imposing sanctions upon Russia and attempting to end the civil war in Ukraine by forcing Russia to relinquish claims to Crimea.
OPEC member Algeria plans to increase state spending by 16 percent in 2015, pushing up its deficit to 22 percent of gross domestic product, according to a draft budget, despite decling energy earnings.
Libya wants the international community to help protect its oilfields, airports and other state assets as it is too weak to stop armed groups fighting for control, its ambassador in Cairo said on Monday.
HOUSTON/CARACAS - Venezuela's shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former president Hugo Chvez struck to lower energy costs for friends and expand his diplomatic clout.
Vienna, Aug 25 The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries stood at $99.19 a barrel Friday, compared to $99.03 last Thursday, according to the OPEC Secretariat.
Since 2009, oil prices have enjoyed a prolonged period of remarkable stability characterized by annualized volatility significantly below its long-term average.
Would an independent Scotland have sufficient reserves of oil in its sovereign waters to support the economic plans put forward by the SNP, ask Professor Alex Russell and Professor Peter Strachan The answer to this question is central to the outcome of the referendum.
On Friday, all eyes were on Janet Yellen as the head of the US central bank said that the American jobs market has not yet fully recovered.
In case you hadn't heard, Russia has an oil problem. The country is heavily dependent on oil tax revenue to fill its coffers, and trouble is brewing given today's low price for Russian crude.
Brent was trading below $103 a barrel on Friday, heading for a second weekly loss as easing geopolitical risks and higher global oil supply pressured prices.
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Oil prices edged lower in Asia today as dealers digested downbeat Chinese manufacturing data and tracked the ebbing likelihood of supply disruptions in conflict-hit Iraq, Ukraine and Libya.
Venezuela's shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former President Hugo Chavez struck to lower energy costs for friends and expand his diplomatic clout.
Updated: Wed Aug 27, 2014 01:54 am
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