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'Peak Oil' theorists say the supply of oil will tighten in the next few years, leading to higher prices.
Read More →NEW YORK --- For the first time in four days, crude oil futures rose Friday as traders bought the contracts following their 9.3 percent slump in the previous session, MarketWatch reported.
Read More →NEW YORK --- Crude oil on Monday fell more than $2 a barrel on speculation that OPEC will fail to boost prices as the global recession continues to curb demand, Bloomberg reported.
Read More →NEW YORK --- The Organization of Petroleum Exporting Countries is expected to lower output targets by at least 2 million barrels a day, or 7.3 percent, when its members meet Dec. 17, according to 18 of 33 analysts surveyed by Bloomberg.
Read More →NEW YORK --- Oil prices rebounded from four-year lows and rose above $43 a barrel Monday as OPEC floated the option of a "severe" production cut and several countries announced new plans to stimulate their economies.
Read More →NEW YORK --- Crude oil fell below $50 a barrel today after the Organization of Petroleum Exporting Countries postponed a decision to reduce output until its next meeting on Dec. 17, Bloomberg reported today.
Read More →CAIRO, Egypt --- OPEC has postponed a decision on whether to cut production again this year, Bloomberg reported. OPEC will take any "additional action" needed to stabilize the market at a summit in Oran, Algeria, on Dec. 17.
Read More →SIOUX FALLS, SD --- Light, sweet crude for January delivery climbed on Monday nearly 6 percent, or $2.94, to $52.87 a barrel on the New York Mercantile Exchange, the Associated Press reported.
Read More →NEW YORK --- Oil prices didn't shift much today, as demand concerns continued to weigh on investors' minds despite announced plans for a stimulus package from the Chinese government, CNNMoney.com reported.
Read More →NEW YORK --- Crude-oil futures dropped more than $2 a barrel today, amid lingering concerns about demand, the Wall Street Journal reported.
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