by | Oct 15, 2010 | Towing
Some OPEC members want oil prices to rise to $100 a barrel to offset the decline in the dollar.
The value of the dollar, which has slipped 13% since June against major world currencies, means that the “real price” of oil is about $20 less than current levels, Venezuela’s Energy and Oil Minister Rafael Ramirez said after Thursday’s OPEC meeting in Vienna.
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OPEC, which accounts for…
Continue reading Some OPEC Members Push for $100 a Barrel Oil
Some OPEC Members Push for $100 a Barrel Oil originally appeared on DailyFinance on Fri, 15 Oct 2010 07:57:00.
Filed Under: Energy, Technology, Green, Market News
by | Oct 14, 2010 | Towing
The U.S. trade deficit unexpectedly jumped to $46.3 billion in August, as the nation’s deficit with China surged to a record $28 billion. Oil prices were the other key culprit as the petroleum deficit surged 5.7%.
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by | Oct 14, 2010 | Towing
The Organization of the Petroleum Exporting Countries will leave oil output unchanged, a delegate at the group’s current meeting told Reuters. Oil ministers apparently are not worried the weak dollar will drive up the price of …
by | Oct 11, 2010 | Towing
Crude oil prices moved above $83 Monday — from just above $70 only two months ago. There are a number of causes for the increased price of crude, among them the growth in demand for oil in China.
Continue rea…
by | Oct 4, 2010 | Towing
Iraq raised its level of proven oil reserves by 24% in the first revision since Saddam Hussein was toppled from power.
The country has 143.1 billion barrels of known and extractible oil, compared with 115 billion barrels at the end of Saddam Hussein’s reign, BBC News reported
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That means Iraq has more proven reserves than neighbor Iran.
In the final years of Hussein’s reign, UN…
Continue reading Iraq Raises Proven Oil Reserves 24%
Iraq Raises Proven Oil Reserves 24% originally appeared on DailyFinance on Mon, 04 Oct 2010 08:55:00.
Filed Under: Energy, Technology, Economy, Green
