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OPEC doing its part for economy, urges U.S. to do same

After a meeting which saw a decision by the Organization of Petroleum Exporting Countries (OPEC) to leave current production levels in place rather than cutting them to maintain higher prices, a top-level member of the organization has said that they have done their part for the world's economy and "challenged" the U.S. and other countries to "clean up the financial mess they have made." Since cutting production following the collapse of demand last year, the cartel's Secretary General, Abdullah el Badri, reckons they have gifted the world $2 ... Read more →

NozzleRage Shannon Arvizu

Who's to blame for the current spike in oil prices and who exactly is benefiting? It seems everyone has an answer to these questions lately. Regardless of whether one believes that we should drill ...

At Witz' End - Gas Prices: Alternatives and Oil Supply Gary Witzenburg

Part of the problem is speculation: individual and institutional investors betting on higher future oil prices. Another big factor is the very weak U.S. dollar. But the bulk of the reason oil and gas ...

OPEC: Oil prices could continue to rise Jeremy Korzeniewski

OPEC president Chakib Khelil believes that the already staggering price for a barrel of oil could continue to rise. Citing the low value of the U.S. dollar, Khelil says that investors are likely to ...

Oil prices fall over $4 after hitting new record highs Jeremy Korzeniewski

Oil hit a new record high price of $111.80 yesterday morning, but settled at $105.68 later, a drop of $4.42 for the day. While we're not yet ready to suggest that an end has come to the daily rise in ...


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