News on OPEC (Organization of the Petroleum Exporting Countries) continually updated from thousands of sources around the net.
Is racial profiling justified?
Which Is the Only State That...
Venezuelans vote in municipal elections on Sunday that are the biggest political test yet for President Nicolas Maduro as he tries to halt an economic slide and preserve the radical socialist legacy of his late mentor Hugo Chavez.
The politically correct west's misreading of the Iranian's true intentions led to a bad agreement that allows Iran's grand design to move forward.
Senators from Mexican President Enrique Pena Nieto's centrist Institutional Revolutionary Party and the conservative National Action Party presented a broad energy reform on Saturday aimed at lifting the country's lagging oil, natural gas and electricity interests into the modern age and driving growth in Latin America's second-largest economy.
Libya has lost more than $7 billion and faces new competition from Algeria and Nigeria in oil markets due to strikes at oilfields and ports drying up exports, Oil Minister Abdelbari al-Arusi said on Saturday.
Considering the company's CEO said last month they wanted to expand Lukoil's presence in China with increased exporting of oil and gas, the recent power outage in Venezuela, which affected 70% of the country's population, may only intensify the allure of gaining Asia partners, especially since they already have relationships with PetroChina .
The Saudi princes are nervous; 92% of Saudi Arabia's annual budget depends on oil sales.
VIENNA, Dec 5, : President of the 164th Conference of the Organization of the Petroleum Exporting Countries and Kuwaiti Deputy Premier and Minister of Oil Mustafa Al-Shimali welcomed Wednesday the conference decision to maintain oil output ceiling.
The Organization of Petroleum Exporting Countries will increase crude shipments through late December as refiners boost purchases to meet winter heating demand, according to tanker tracker Oil Movements.
Venezuela's central bank has raised the reserve amount that banks must deposit with it by 1.5 percentage points to 20.5 percent amid government efforts to tame inflation that has roared to nearly 55 percent, according to the Official Gazette circulating on Friday.
The interim nuclear agreement between the Great Powers and Iran is creating a lot of anxiety for people who support the deal, because not much proof has been offered to suggest that it will actually work.
This of course will move all markets, and this one will without a doubt be no different.
Paolo Scaroni of Italy's Eni met with Iranian Oil Minister Bijan Zanganeh on Thursday, the first Western oil CEO to do so publicly with the minister since last month's interim nuclear deal, Reuters reported.
Libyan army recruits collect their beds on the first day of their training in Tripoli December 4, 2013.
The price of oil rose for a fourth straight day as the government reported the first drop in crude oil supplies in 11 weeks.
Energy ministers from Opec countries agreed yesterday to keep the group's target for crude output unchanged at 30mn bpd.
Nationwide local polls this weekend are President Nicolas Maduro 's first electoral test since taking power and will show what Venezuelans think of his socialist government's radical response to deepening economic problems.