Sep 10 2009
OPEC is leaving its production quotas unchanged, opting to take a cautious approach in a market awash in crude and a global economy still in the early stages of recovery. The 12-nation Organization of Petroleum Exporting Countries early Thursday said “market fundamentals have remained weak,” even though current oil prices at about $71 are roughly [...]
Sep 07 2009
The Organization of Petroleum Exporting Countries (OPEC) meets in Vienna on Wednesday, with most analysts expecting the producer group, the source of more than a third of the world’s oil supply, to maintain its official output target stable around $70. Oil prices pushed toward $69 a barrel in thin trade on Monday, with sentiment buoyed [...]
Jan 16 2009
Oil prices languished near $35 a barrel Friday in Asia as traders eyed a weakening U.S. economy and falling global demand that’s sent crude down a third since last week. Light, sweet crude for February delivery was down 2 cents at $35.38 a barrel by midday in Singapore in electronic trading on the New York [...]
Dec 04 2008
Oil prices closed at less than $47 a barrel on Tuesday as news that OPEC made only two-thirds of its pledged output cuts last month outweighed a rebound in the U.S. stock market. New York light sweet crude for January dropped $2.32 to close at $46.96, the first time the benchmark contract has settled below [...]
Oct 17 2008
World prices for oil futures continued to fall. On the stock market price of oil fell another 6.3% and established by the end of the day below 70 U.S. $ / bbl. In New York, at the official price of NYMEX futures Light, Sweet Crude Oil (November) fell 4 cents to $ 69 and settled [...]