OPEC asks US to use oil reserves
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JAKARTA, Indonesia -- The Organization of Petroleum Exporting Countries has asked the United States to use its strategic petroleum reserves to help reduce oil prices, the cartel&#39;s president said Wednesday.
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LONDON, December 10  - The organization of petroleum exporting countries (OPEC) agreed today to withdraw one million barrels of surplus production over the set quota of 27 million barrels per day in an effort to check the recent decline
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The United States must diversify its global oil supplies, expand a world network of strategic petroleum reserves and raise fuel efficiency standards to ensure its energy security, a panel of experts will recommend Wednesday.
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Statoil ASA sought government permission Tuesday to resume partial production from two North Sea oil fields after a Nov. 28 natural gas leak shut them down.
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OPEC has taken the unprecedented step  of urging the United States to tap its emergency crude reserves  to bring down world oil prices.
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VIENNA, Austria -- OPEC was deciding Tuesday whether to maintain its production quota or give it a modest and symbolic boost to calm oil markets worried that there may not be enough crude to meet global demand by year's end.
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Saudi Arabia&#39;s Oil Minister Ali Naimi said the kingdom has raised its capacity to 11 million barrels per day. Kuwait&#39;s Oil Minister Sheikh Ahmad Fahad Al Sabah called on OPEC
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Here's a way to benefit from an increase in the global demand for oil.
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NEW YORK, December 27  - Saudi Arabiaâs oil reserves could increase 77% to 461 million barrels in a few years, since the oil rich country continues to maintain spare capacity of two million barrels per day to help control the global
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The president of OPEC said yesterday that oil prices are too high to allow a cut in output when it meets this weekend.
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Opec, the oil producers&#39; cartel, has taken the surprise step of urging the US to release stocks held in emergency reserves to calm the frantic crude market.
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By Muklis Ali JAKARTA  - OPEC took the unprecedented step of urging the United States to tap its emergency crude reserves to bring down world oil prices.
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World's largest oil reserves, could increase to top 461 billion barrels in a few years, the nation's oil minister said Sunday.
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NEW YORK, October 27  - The Organization of Petroleum Exporting Countries (OPEC) has asked the US government to release oil from its Strategic Petroleum Reserve (SPR) to help ease the rising oil prices.
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The Bush administration is set to approve requests from two refineries to borrow oil from the government&#39;s Strategic Petroleum Reserve to make up for supplies
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ABUJA, Nigeria  -- With oil prices recently dipping to seven-month lows, OPEC's president said Thursday that the group is considering an emergency meeting to discuss the possibility of cutting output.
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International oil markets have enough oil, but a lack of capacity to refine it was contributing to high prices, OPEC's president said on Sunday.