OPEC News

Alberta Premier Alison Redford says the United States and Canada share political and environmental values and must work together to become energy independent of those who do not.

Saudi Arabia , the biggest crude oil exporter, shipped 7.44 million barrels a day oil in April, 0.3 percent more than in March, while exports from fellow OPEC members Iraq and Venezuela made steeper gains, data show.

The Brent/WTI crude oil spread, at current levels, is especially vulnerable to headline risk.

Oil workers on a rig in Midland County, Texas. Growth in U.S. oil production is putting pressure on OPEC.

KUWAIT CITY: Foreign direct investment in Arab states rose by 9.8 percent last year despite unrest in some of the countries but remained well below its level in 2010, when the Arab Spring began, a report said Tuesday.

Iraq aims to ramp up oil production by nearly 45 percent by the end of next year - without any input from its autonomous Kurdistan region - which suggests a lasting compromise in their long-running oil feud may be a way off.

Oman should consider fiscal reforms as a priority because continued growth in public spending may be unsustainable in the long run, its central bank said on Tuesday.

While it is true that the Obama administration has been uniquely hostile to the exploitation of America's vast hydrocarbon energy resources, not every bad energy policy has originated during this president's tenure.

The Pioneer oil refinery is silhouetted against the setting sun in El Dorado, Kan.

Standard & Poor's downgraded Venezuela's sovereign foreign currency credit rating by one notch on Monday, citing political turmoil as an impediment to enacting meaningful reforms in order to stop a slide in economic activity.

After clashes between police and protesters, Indonesia's parliament Monday night voted to revise the national budget and allow an increase of up to 44% in the prices of subsidized gas and diesel fuel.

It was a historic moment in U.N. climate talks: with most countries in favor and only a group of OPEC members objecting, the German environment minister chairing the conference banged down her gavel to launch negotiations on a treaty to fight global warming.

During the 1970s energy crisis, a popular bumper sticker in the West was "Let the Eastern Bastards Freeze in the Dark."

India cut its Iranian oil imports by more than 40 percent in the first five months of the year, replacing the crude with shipments from Venezuela, Iraq and Oman, and pushing Iran down four places to seventh among its suppliers.

Nymex crude oil prices increased around 1.9 percent in the last week, taking cues from weakness in the DX.

Last week, motorists saw a slight increase in both oil and gas prices after President Barack Obama authorized support and arms for Syrian rebels, increasing tensions in an oil-saturated region.

Iranian President-elect Hassan Rohani's vow to improve ties with the world carried him to a surprise first-round win.

The EIA has noted, in This Week in Petroleum that, for the first time, the sum of Non-OECD country demand contributed more than half to the total of liquid fuels consumed in the world.

2. Most of the American market is controlled by five major producers. Welcome to cartel pricing.

In 1973, following the OPEC-induced oil crisis, President Richard Nixon announced Project Independence.