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Author Archives: Oil.com Editorial Team
Oil Drops to 5-Month Low Near $94 a Barrel
The prices on oil declined to near $94 a barrel in Asia adding a two-week sell-off, which marked a record decrease in five months in the mid of rising concern about Europe’s debt crisis.
Posted in News
Tagged Asia, China, Electronic trading, Europe’s debt crisis, New York Mercantile Exchange, Oil, Oil Prices, the United States
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California Sees Rise in Oil Prices
According to the California State’s Energy Commission, there were 14 refineries that produced the state’s expensive blend of gasoline. but now remain only 12, reveal the officials. The survey done this year shows that the state had about 6.61 million gallons … Continue reading
Posted in News, Oil Prices, Oil Resources
Tagged Oil, Oil economy, Oil Prices, Prices on oil
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Nigeria Plans to Increase Crude Oil Capacity to 4m bpd
An oil installation belonging to Shell Petroleum Development Company in Odidi, Niger Delta area of Nigeria (AP / George Osodi) Nigeria, Africa’s largest oil producer plans to increase crude oil production to 4 million barrels per day by 2020 said … Continue reading
Posted in News, Oil Resources
Tagged Crude oil, Diezani Alison-Madueke, East Africa, Niger Delta, Nigeria, Oil
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Oil levitates near $103 despite EU Economy Worries
Despite increasing investors’ worries over the Europe’s debit crisis affecting economic growth and crude consumption, oil prices hovered close to $103 a barrel on 24th April, 2012 in Asia.
Posted in News
Tagged EU economy worries, Europe’s debit crisis, eurozone, Oil, Oil Prices, U.S. economy
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Cleaning Up Oil Spills With Nanosponges
The harsh truth is that oil spills cause widespread damage to the environment and cleaning them up takes up time. Scientists across the world are always trying to devise methods to accelerate the process of recovery, which will cause the … Continue reading
Posted in News
Tagged boron, nanosponges, nanotubes, oil spills, Penn State University, research, Rice University
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Oil Prices to Drift Down
In order to match earlier week’s downtrend, the prices on oil fell down on 2nd of April 2012. This downtrend was experienced after traders got the latest batch of data on the Chinese economy.
Posted in News
Tagged Chinese economy, HSBC, Nuclear Programme, Oil, Oil Prices, Purchasing Managers Index
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High Oil Prices Pinching EU Consumers
Higher oil prices are starting to pinch the pockets of EU consumers and could drive the region back into recession, said chief economist of the IEA, Fatih Birol. Surging oil prices will have a direct impact on the European Union’s … Continue reading
Posted in Oil Prices
Tagged energy prices, EU, European Union, Fatih Birol, fuel, IEA, Oil Prices
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Oil Prices Fell Down $108 Regardless of 10-Month Increase
After a successive 10-month increase in oil prices denoting a new data in the U.S. economy, it dropped down below $108 a barrel in Asia.
Posted in News, Oil Prices
Tagged Brent Crude, Oil, Oil price, Oil Prices, Prices on oil, US economy
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OPEC Oil Prices Continue to Soar Up
According to the Vienna-based cartel, weekly average prices on oil of the Organisation of Petroleum Exporting Countries (OPEC) climbed up to $122.87 per barrel. From the last weekly report, the price rise has been recorded the highest since July 2008.