Top Oil News

President Hugo Chavez is vowing that Venezuela will provide China with all the oil it needs “for the next 200 years.” Chavez spoke Tuesday to a visiting delegation led by Chinese Vice President Xi Jinping. The two nations are expected to sign a series of accords on Wednesday. Caracas sees China as a key partner [...]

Tags: Chavez, China, Venezuela

Oil rose back above $34 a barrel Friday in Asia after concerns about weakening U.S. consumer demand sent crude near five-year lows overnight. Light, sweet crude for March delivery rose 41 cents to $34.39 a barrel by afternoon in Singapore on the New York Mercantile Exchange. The contract fell $1.96 overnight to settle at $33.98 [...]

Tags: Asia, Oil Prices