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US lifts 40-year ban on oil exports, agrees to light oil exports
For the first time in 40 years, the U.S. government has officially allowed the shipment of as much as a million barrels per day …
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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 …
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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 …
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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 …
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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 …
