OPEC News

North American Oil and Gas explorers have performed well in the early stages of 2012 as several companies intend to boost production this year.

Trying to forecast world oil demand growth is a tricky job at the best of times.

Opposition presidential candidate and Miranda state Governor Henrique Capriles speaks to his supporters after knowing the results of the election in Caracas February 12, 2012.

Oil prices remained relatively stable for the fifth consecutive week and closed Friday at $98.67 a barrel on the New York Mercantile Exchange--83 cents more than the week prior.

Obama has failed our country by not approving the Keystone XL Pipeline project. Obama has no energy policy where the U.S. stops relying on foreign oil from the Middle East and Venezuela.

A final decision on the long awaited second lifeline for Greece has been put off till next week.

The global economic crisis has seen the price of oil torn in all directions, as poignantly highlighted by the exceptionally 2008-2009 cycle.

Venezuelans voted on Sunday in an opposition primary expected to name a young state governor to challenge Hugo Chavez later this year at a close presidential election in South America's biggest oil exporter.

The International Energy Agency cut its 2012 global oil demand forecast for a sixth month as a "darkening" economic outlook reduced prospects for growth amid supply concern following sanctions on Iranian crude.

Carlton E. Davis, GUEST COLUMNIST The continued operation of all four alumina plants in Jamaica, including even the most efficient, CAW, depends on the industry having a long-term source of competitive energy, as well as resolving certain bauxite-reserve issues.

The UAE held a meeting for G8 financial undersecretaries and Deauville partners in Abu Dhabi, as per the directives of HH Sheikh Abdullah bin Zayed, Foreign Minister of the UAE.

Oil prices fell on Friday, but posted gains for the week, as the latest hitches in negotiations on a Greek bailout package pressured oil, the euro and equities.

Although the exact level of Venezuela's oil production has beenA shrouded in mystery for almost a decade now, there is no doubt aboutA the OPEC nation's intentions to increase exports to China.

Crude-oil futures declined Friday after the International Energy Agency cut its outlook for global oil demand, and investors turned jittery yet again on Greece and its debt crisis.

World oil prices fell sharply on profit-taking Friday after the International Energy Agency slashed its demand forecast and amid delays to a Greek bailout deal, analysts said.

The Organization of Petroleum Exporting Countries cut its forecast for global oil demand in 2012 as the economic recovery struggles to gain momentum.

DUBAI, Feb 9, : Kuwait's budget surplus widened to 13.2 billion dinars in the first nine months of its 2011-12 fiscal year, nearly double its year-ago level on higher than expected oil income and lower spending, central bank data showed on Thursday.

Republican presidential candidate Rick Santorum on Thursday accused President Barack Obama of actively seeking ways to allow Iran to gain a nuclear weapon and suggested that the administration had betrayed Israel by publicly disclosing what may be a plan to attack the Muslim nation.

Republican presidential candidate, former Pennsylvania Sen. Rick Santorum speaks during a rally, Thursday, Feb.

Republican presidential candidate, former Pennsylvania Sen. Rick Santorum speaks during a rally, Thursday, Feb.