Almost a week after a ship blocked the Suez Canal causing a traffic jam in one of the most import maritime lanes in the world, the canal is back in business again. The vessel, whic
Venezuela is facing an economic and humanitarian crisis with its main industry–oil production facing sanctions and falling prices.
The United States, which is heavily into shale oil production, is facing an abundance of supply that is at unsustainable levels with the crude prices so low.
Saudi Arabia poised to be the oil Leader after the highest oil output by cutting down its crude prices relatively.
From a $128 per barrel in March, a breath taking four year high hit in the crude oil prices, the NYMEX Crude oil prices today lingers a little below $100 a barrel. While the other
In a move aimed at halting illegal mining as well as boosting the country’s gold reserves, Venezuelan President Hugo Chavez has announced plans of taking over Venezuela’s l
The International Energy Agency (IEA) announced on Thursday, the release of 60 million barrels of oil from global reserves. Primarily being touted as a move to counter the oil shor
An organization known for the high value they place on consensual decision-making, OPEC admitted after the cartel’s meeting that they had left output levels unchanged due to lack
The Organization of Petroleum Exporting Countries (OPEC), scheduled to convene in Vienna on Wednesday, is likely to face significant pressure towards increasing output, in a meetin