News on OPEC (Organization of the Petroleum Exporting Countries) continually updated from thousands of sources around the net.
1 hr ago | The Star Online
Opponents of Venezuela's socialist government marched on Sunday to protest against alleged Cuban interference in the armed forces, with clashes breaking out afterwards in a Caracas square.
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5 hrs ago | The Daily Star
Fuel trucks used to supply gasoline to cars are deployed near the east of the city of Sirte March 15, 2014.
10 hrs ago | West Australian
Central Bank President Nelson Merentes acknowledged on Sunday that Venezuela was undergoing an "economic crisis" but said measures like a new market-based currency mechanism would help bring rapid improvements.
As these big spenders start to scale back their spending habits, both Schlumberger and Transocean should be especially nervous.
Libyan rebels controlling three oil export ports said on Saturday they were ready to negotiate with the government over ending their six-month blockade if Tripoli abandoned plans for a military offensive.
The latest demand estimate of 92.7 million barrels per day is an increase of 95,000 barrels a day above last month's forecast, with emerging markets expected to provide most of the gain, the International Energy Agency said.
Contributors are students Nathan Jones, Corey McClintock, Meghan McGreal, Sam Rossabi, Ben Shields and Leah Wormack.
South Korea's crude imports from Iran surged 104 percent in February from a year earlier as refiners hiked purchases ahead of maintenance shutdown starting from March, according to the country's customs data and a refining source.
The 2003 invasion of Iraq was a formidable maneuver that launched a 10+ year conflict.
Venezuela's foreign minister lambasted U.S. Secretary of State John Kerry on Friday as a "murderer" fomenting unrest that has killed 28 people in the South American OPEC member nation.
The U.S. government picked an unusual time to announce that it is putting up to 5 million barrels of oil from the Strategic Petroleum Reserve for sale.
WAM VIENNA, 14th March, 2014 --The price of OPEC basket of twelve crudes stood at 103.71 dollars a barrel on Thursday, compared with $103.75 the previous day, according to OPEC Secretariat calculations.
First it was the United States, which threatened Russia with economic sanctions and even a removal from the G-8 over their intervention in Ukraine and the Crimea.
The Organization of Petroleum Exporting Countries will cut crude exports this month to the lowest level since November as refinery demand slows in Europe and North America, according to tanker-tracker Oil Movements.
The price of oil dropped below US$98 a barrel Wednesday as the possibility of a deeper economic slowdown in China fed expectations of weaker demand and a report showed a rise in U.S. oil supplies.