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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 ...

Doctoral dissertation estimates 'peak oil' between 2008 & 2018 2 years ago on Autoblog Green

A doctoral dissertation by Fredrik Robelius of the Uppsala University in Sweden contends that global oil production will reach its peak yield as early as next year before falling into decline. The thesis, which attempts to estimate the largest oil fields' future production, is based on Robelius's ...

Has Saudi oil production peaked already? 8% decline in 2006 2 years ago on Autoblog Green

Over at the OilDrum.com there is an interesting and potentially disturbing look at Saudi oil production in 2006. Looking at data from a number or different sources (where the exact numbers vary but the trend is definitely the same), crude oil production in Saudi Arabia dropped eight percent in the ...


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