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WASHINGTON – The U.S. Energy Information Administration (EIA) has analyzed the validity of the conclusion of a recent report that said the U.S. could end up producing more crude oil than Saudi Arabia around the year 2020.
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 --- 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 →NEW YORK --- Crude-oil futures dropped more than $2 a barrel today, amid lingering concerns about demand, the Wall Street Journal reported.
Read More →VIENNA, Austria --- After an emergency meeting in Vienna, OPEC announced plans to cut production by 1.5 million barrels a day in an effort to buoy crude oil prices, the Los Angeles Times reported.
Read More →NEW YORK --- Crude oil climbed more than $2 a barrel today on signs that the Organization of Petroleum Exporting Countries may cut output to stop a 50-percent drop in prices since July, Bloomberg reported.
Read More →NEW YORK, N.Y. --- Fleet managers, brace yourselves for more pain at the pump. Though retail gas prices fell more than a cent over the weekend, oil futures on Monday rose to a record of over $120 a barrel.
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