Monthly Archives: September 2011
As oil prices continue to fluctuate throughout the world and the prices on oil production increase new technologies to extract oil are being developed. Oil fields that were once thought too costly to provide oil in usable quantities are now … Continue reading
In an effort to manage a sovereign debt crisis and attempt to recoil financial market, oil price rose yet again in New York so that Europe can manage the oil prices and curb oil demand to support its economy.
Analysts predict that the decision of OPEC (Organisation of oil exporting countries) to curb in oil exports if oil prices soar due to the decrease in economic growth will likely to result in oil prices to be steady throughout the … Continue reading
After revising its oil demand and consumption forecast, OPEC stated that the demand would remain low in the year 2011 due to slow global economic growth in industrial nations and a weak US economy.
It’s great to know that the Members of Organisation of Petroleum Exporting Countries are taking wise steps to prevent the price rise. In a press conference Kuwait’s oil minister exclaimed that Saudi Arabia and Kuwait, the two OPEC members, have … Continue reading