Oil-price boom a boon for producers
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Not everyone was complaining when the price of a barrel of oil flirted with the $50 mark on global markets earlier this summer. For Venezuelan President Hugo Chavez, it meant more money to
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With the world so focused on the rising price of a barrel of light crude oil, it&#39;s a wonder that people even get into their cars and drive around anymore.
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OPEC ministers yesterday agreed to increase their ceiling for oil production to help bring down stubbornly high prices in a decision that traders and analysts
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Oil ministers of Opec countries say they have the capacity to pump more oil after crude prices hit fresh highs last week.
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Driven by an unprecedented surge in demand, oil prices crossed a long-awaited symbolic milestone.
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THE UAE and Kuwait plan to increase oil production capacity by nearly 3,00,000 bpd and 2,00,000 bpd respectively in the short term in a bid to stabilise the market, which has been rocked by high oil prices touching $53 per barrel prior to the week end.
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Oil prices surged to a new high above  $47 a barrel on Wednesday on evidence that energy costs are not  substantially slowing the economic growth that fuels oil  demand.
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Declaring that high oil prices are a threat to the global economy, the world&#39;s industrialized countries urged producers Friday to provide price relief by boosting supplies.
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The perceived risk of relying on foreign oil and the desire to create fuel from domestic sources guarantees that biofuels will become competitive with crude oil. In Autopia.
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Opec is under pressure to lift official production levels at a critical meeting today as global crude prices rose again on the back of pipeline attacks in Iraq and hurricanes heading for the Gulf of Mexico.
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Oilâs $100-a-barrel price flirtation suggests that traders will see more of the escalation in energy markets that marked the final months of 2007.
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Major Gulf producer Kuwait will back  a hike of 1 million barrels per day in OPEC's output ceiling if  oil prices stay at record levels, a move that would bring  formal production limits in line with actual supplies.
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Declaring that high oil prices are a threat to the global economy, the world's industrialized countries urged producers Friday to provide price relief by boosting supplies.
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LONDON  - Oil prices rebounded on concerns that OPEC producers might announce a surprise cut in output quotas when they meet later this week, following a recent market sell-off, analysts said.
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The rapidly growing biofuel industry will push farm commodity prices higher in coming years, a study says.
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VIENNA: Oilâs record price surge has thrust the Organisation of Petroleum Exporting Countries (Opec) into the political spotlight more than any time since the 1970s.
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The Gulf find could jack up profits for oil rig equipment manufacturers.