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  • Saudi oil minister sees no change at OPEC meet 6 Dec 2009 08:42 GMT
    ... its ministers meet later this month as oil prices are at the desired levels, Saudi ... no need for the Organization of the Petroleum Exporting Countries to change its output targets ... the global economy will recover and boost demand. The price is close to the $75 ...

  • Chinese Oil Demand Prospects in 2010 6 Dec 2009 11:05 GMT
    ... 2009. Needless to say, Chinese supply and demand for commodities in 2010 will be a ... strong or weaken throughout 2010. Focusing on oil, it can be observed that global oil ... The second phase of the Chinese strategic petroleum reserve (SPR). Plans are underway to construct ...

  • OPEC should stay cautious, nurture economy 6 Dec 2009 01:36 GMT
    ... it meets this month to decide its oil output policy as it needs to balance ... rather than a tighter oil supply and demand balance. OPEC agreed to curb its output ... and there were 165 million barrels of crude and products floating at sea -- equal ...

  • Saudi minister says oil prices 'perfect' 6 Dec 2009 09:48 GMT
    ... CAIRO: Saudi Arabia's oil minister said current global oil prices are ... supplies roughly 35 percent of the world's crude, has held its quotas unchanged since last ... the world's worst recession in decades sapped demand for crude. The benchmark crude oil contract ...

  • Int'l oil investment shrinks 20% amid financial crisis: OAPEC 6 Dec 2009 03:10 GMT
    ... Oil ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) said Saturday that international ... for several decades, and that the international demand for oil will increase from 85 million ...

  • Saudi oil minister: oil prices 'perfect' 6 Dec 2009 01:21 GMT
    ... An Egyptian bodyguard secures Saudi Oil Minister Ali Al Naimi as he is ... supplies roughly 35 percent of the world's crude, has held its quotas unchanged since last ... the world's worst recession in decades sapped demand for crude. The benchmark crude oil contract ...

  • OPEC unlikely to alter crude oil output levels 6 Dec 2009 07:54 GMT
    ... Associated Press CAIRO — Saudi Arabia’s oil minister said Saturday that current global oil ... supplies roughly 35 percent of the world’s crude, has held its quotas unchanged since last ... the world’s worst recession in decades sapped demand for crude. The benchmark crude oil contract ...

  • Saudi Arabia hails perfect oil price 6 Dec 2009 06:18 GMT
    ... Saudi Arabia says oil prices are 'perfect' and the global market ... above $US30 after a sharp decline in demand because of the global financial crisis. Oil ... October, prices jumped above $US80 before easing. Crude prices tumbled on Friday in volatile trade, ...

  • Oil prices 'perfect,' Saudi minister says 6 Dec 2009 09:51 GMT
    ... supplies roughly 35 percent of the world's crude, has held its quotas unchanged since last ... cuts. "The price is perfect," said Saudi Oil Minister Ali Naimi, whose country sits atop ... the world's worst recession in decades sapped demand for crude. The benchmark crude oil contract ...

  • Arab OPEC members agree to maintain production 6 Dec 2009 03:52 GMT
    ... support for maintaining production quotas, saying the oil price is satisfactory and the market is ... 30 dollars after a sharp decline in demand due to the global financial crisis. Oil ... above 80 dollars a barrel before easing. Crude prices tumbled Friday in volatile trade, succumbing ...

  • Dollar and supply trump jobs data; crude falls 6 Dec 2009 04:35 GMT
    ... NEW YORK (AP) - Oil prices ended the week tumbling to a ... tumbling to a seven-week low as massive crude supplies and a surging dollar overshadowed encouraging ... the past several months despite weak consumer demand and bloated supplies. But as the greenback ...

  • LUANDA 22 Dec 2009 Angola hosts 155th OPEC meeting 6 Dec 2009 05:18 GMT
    ... to offset weakness in the price of oil. Kuwait's oil minister, Sheikh Ahmad al-Sabah, told ... Bloomberg in October that the Organization of Petroleum Exporting Countries is likely to maintain oil ... In support of his prediction, he described demand from Asia as good and exressed optimism ...

  • Kurdistan: A lot of oil, a lot of risk 6 Dec 2009 04:35 GMT
    ... Kurdistan: A lot of oil, a lot of risk The future of ... from depleting reserves elsewhere and meeting rising demand from the developing world. In Iraq, the ... Exxon, Royal Dutch Shell PLC, China National Petroleum Corp. and Italy's Eni SpA have either ...

  • ExxonMobil Demonstrates Industry Expertise at 2009 International Petroleum Technology Conference 6 Dec 2009 09:44 GMT
    ... ExxonMobil Demonstrates Industry Expertise at 2009 International Petroleum Technology Conference will demonstrate its expertise and ... into the anticipated 50 percent increase in demand for natural gas and the challenge to ... exploration; drilling; well completion; enhanced and improved oil recovery; large-scale heavy oil production; production, liquefaction ...

  • Connecticut Science Center Becomes FIRST in Nation to use Fuel Cell for the Majority of its Power 6 Dec 2009 04:31 GMT
    ... Center Becomes FIRST in Nation to use Fuel Cell for the Majority of its Power ... Hartford destination. When the Science Center's power demand is less, the 200-kilowatt fuel cell transfers energy ... technologies and reduce our reliance on foreign oil This is a smart investment that will ...


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