Oil Producers Emerging to Sell at Record Prices
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Oil producers are emerging to lock in record high prices for their future crude output, but activity is modest as firms still fear calling a premature end to this year&#39;s stunning price rise, traders said on Friday.
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ARIS, Aug. 20  Oil prices hit a new record today after the Iraqi insurgency increased its pressure on the country&#39;s oil infrastructure and traders feared growing unrest might interrupt crude exports.
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Oil surges to a record of nearly $79, despite Opec saying it will boost oil output to ease cost pressures.
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Rising oil prices are expected to hit China's growth rate this year.
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Some companies are dealing with rising oil costs in unique ways.
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London - Oil prices roared to new record highs yesterday, within a whisker of $51 a barrel, on worries about supplies from the Gulf of Mexico, where almost 30 percent of production remains shut.
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Crude reaches $51.48 a barrel as the damage from Hurricane Ivan lingers in the Gulf of Mexico. LONDON  - Oil prices streaked to a record high above $51 a barrel Wednesday as speculators drove up prices
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OIL continues to set new records by the day. Last Friday, it was in whispering distance of $50 a barrel as Iraq and the woes of the giant Russian producer, Yukos, kept markets on tenterhooks.
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NEW YORK -- Oil futures prices headed to a new high Monday as a strike began in Africa&#39;s largest exporter of crude oil. Crude for November delivery rose 33 cents to $53.
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Oil futures prices advanced to another record high yesterday as a strike began in Africa's largest exporter of crude, exacerbating global supply concerns at a time of strong demand and reduced output in the hurricane-ravaged Gulf of Mexico.
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Oil prices struck a fresh record high  above $47.50 a barrel on Thursday as fresh evidence of demand  growth in China and India underlined how rising appetite for  oil is straining the world's supply system.
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Crude oil in New York traded near a record high as US producers in the Gulf of Mexico struggled to restore output cut by Hurricane Ivan at a time when refiners are trying to build up winter-fuel supplies.
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PetroChina, Chinaâs largest oil and gas producer, said it planned to make an initial public offering of shares in Shanghai that may be Chinaâs largest, raising more than $9 billion.
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Crude oil prices jumped above $51 a barrel yesterday, setting a fresh record amid a prolonged production shut-down in the Gulf of Mexico in the wake of Hurricane Ivan.
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The Organization of Petroleum Exporting Countries, source of more than a third of the world&#39;s oil, may raise its output target by as much as 3.8 percent in a bid to lower near-record prices.
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Saudi Arabia, the world&#39;s largest oil exporter, is to raise production from 9.5 million barrels a day to 11 million barrels in an attempt to rein in prices that have topped US$50 a barrel.
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Oil prices have continued their record-breaking run on Wednesday, busting through the $47-mark amid concerns that demand will outstrip supply.