Official: Fear Factor Adding to Oil Price
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Saudi Arabia&#39;s oil minister Ali Naimi said Monday that the &quot;fear factor&quot; over supplies has added $10 to $15 a barrel to the price of oil and reiterated that his country is working toward lifting its sustainable oil production capacity.
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The world's top finance officials on  Friday asked oil-producing nations to step up production and  agreed it was crucial to work out exactly why prices have  soared to levels that threaten global growth.
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NEW YORK  - Global crude prices boiled over on fear of tight US winter fuel supplies and because of a tape apparently by Osama bin Laden calling for attacks on Gulf oil supplies.
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TOKYO: Rising oil prices are unlikely to deal a major blow to global economic growth although the trend may seem &quot;uncomfortable,&quot; a researcher with the International Monetary Fund says.
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The armed attack on the US consulate in the Saudi port of Jeddah served to fan investorsâ anxiety that terrorism in the worldâs largest oil producer could disrupt shipments.
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By George Chamberlin , Daily Transcript Financial Correspondent. Concerns about oil production leading into the winter months sent shivers through the stock market Wednesday.
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Oil scaled a new high above $55 a barrel  Monday as a threat by Norwegian ship owners to halt production  from the world's third biggest exporter stoked fears of a  winter supply crunch.
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THERE is eerie nervousness in oil and financial markets amid fears over oil supply as prices are edging towards $50 (around Rs 2,298) a barrel mark.
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LONDON, November 29  - Saudi Arabiaâs Oil Minister, Ali Al-Naimi, reiterated today that his country is taking adequate steps to expand its sustainable oil capacity, while mentioning that supply-related fears have resulted in a $10-$15
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Some experts fear that a boom in gas demand for electricity generation will send prices even higher.
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A combination of political jitters about the Middle East and supply concerns for winter helped drive the price of crude oil briefly past $88 a barrel in New York yesterday.
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The price of crude oil rose to a record high yesterday even as the Bush administration agreed to tap the nation&#39;s emergency oil stockpile because of supply problems caused by Hurricane Ivan.
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OIL prices rose from three- month lows yesterday as political unrest overseas renewed concerns about supplies, while some Organisation of Petroleum Exporting Countries members started talking about cutting production to protect their incomes.
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Renewed tensions between the US and Iran as well as a US cold snap push oil prices above $60 a barrel.
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(MENAFN) An official at the International Energy Agency (IEA) said that an extra 3 million barrels per day (bpd) of production capacity worldwide is needed to avoid another year of blistering oil prices, Reuters reported.
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Rising oil prices are unlikely to deal a major blow to global economic growth although the trend may seem &quot;uncomfortable,&quot; a researcher with the International Monetary Fund says.
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The price of crude oil reaches new record levels amid concerns about possible unrest in Venezuela and the threat of sabotage in Iraq.