,
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 oil producers in the Middle East are worried at such a steep decrease and Iraq is probably suggesting a control in the oil output to sky rocket the oil prices again, Saudi Arabia, a key contributor among OPEC, is all happy about it.
,
Venezuela Prepares to Nationalize its Gold Industry
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 …
,
IEA, Obama admin counter Libya hold-up by releasing oil reserves
The International Energy Agency (IEA) announced on Thursday, the release of 60 million barrels of oil from global reserves. Primarily being touted as a …
,
OPEC Impasse Leaves Output Levels Unchanged. Oil Prices Soar
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 …
,
OPEC meeting to focus on output quotas and triple-digit oil prices
The Organization of Petroleum Exporting Countries (OPEC), scheduled to convene in Vienna on Wednesday, is likely to face significant pressure towards increasing output, in …
,
US$1,000Billion revenue in crude oil exports for OPEC
The Crude Oil producers’ Cartel OPEC,, is expecting a record US$1,000B (aka US$1T) in export revenue, a historic landmark for the cartel, if Crude …
