Archive for the ‘Oil’ Category

The History of OPEC-Vision and Mision

OPEC was founded on September 14, 1960 by Iran, Iraq, Saudi Arabia, Kuwait and Venezuela. The goal is the establishment of OPEC to set world oil prices and allocation of production of each member. In other words, short-term goal of this organization is how to transfer income from the oil companies to each country’s oil [...]

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Oil Price is set to $50 US per Barrel after Bailout

Oil Crude prices rebound above $50 U.S. dollars per barrel, but then declined again on Monday local time, because traders consider the possibility of a decrease in OPEC production this weekend and continued economic turmoil. In New York, light sweet crude oil for January delivery ended at 44.51 U.S. dollars per barrel, down 1.77 U.S. [...]

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Oil prices plunged After Automotive Bailout U.S. Failed

The price of crude oil plunged on Friday, local time, after a bailout plan for the automotive industry so that the U.S. failed to heighten concern about slowing down on demand due to the global financial crisis bites. As reported by AFP, light sweet crude oil for January delivery fell 1.70 U.S. dollars to be [...]

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Oil Price and Government Decision

After running high, Oil crude price now is lower than $80 per barrel. Amazing right! Why Oil crude price decline very significantly? Why? Congress had question to American Giant Oil Company about how much the real price for oil crude price, How much US to produce 1 barrel? And the answer was very surprising, lower [...]

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Before the Bell: The Bear Is Back

Welcome to the Reuters Before the Bell news mail.
The government’s plans to stabilize Fannie Mae and Freddie Mac could only temporarily distract Wall Street from its longstanding jitters about the financial sector. Stock futures are pointing down as investors fret over IndyMac’s collapse last week and worry about the future of other banks.
With that sort [...]

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Oil Price Fluctuation on Tuesday

Low against major currencies, conflict on middle east and worried about oil stock and disturbing oil supply in Nigeria have been pushing Oil price upper $138 per barrel on Tuesday. The current price closes to new record high made on last week. Markets are worrying with King Abdullah statement last Sunday that they will increase [...]

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