iOS app Android app

Opec Meeting

OPEC Meets This Week, Holding World Hostage to Its Budget "Needs"

Raymond J. Learsy | Posted 08.11.2012 | Business
Raymond J. Learsy

The irony is that we (the U.S. and oil consumers throughout the world) are being asked to bail out the budgets of OPEC nations, especially the booming Gulf Arab States while we and much of the rest of the world are sinking into recession, if not depression.

Import Prices Rise For Eight Straight Month

Posted 08.10.2011 | Business

WASHINGTON (Pedro Nicolaci da Costa) - Import prices rose for an eighth straight month in May despite a drop in fuel costs, with the year-on-year ...

OPEC's Agression Against the World's Economy

Raymond J. Learsy | Posted 08.08.2011 | Business
Raymond J. Learsy

To listen to the Saudis and their friends in the press, they are doing the very best they can about sky-high prices at the pump, and we should all be thankful. The sham is preposterous, and yet they are able to game us again and again.

Qatar's Oil Minister Doesn't Expect 'Dramatic' Decision At OPEC Meeting

Posted 07.08.2011 | Business

Qatar's oil minister said he does not expect OPEC to make a "dramatic" decision during the upcoming OPEC meeting in June, and that the market is s...

Triple-Digit Oil Prices Back Within a Quarter

Jeffrey Rubin | Posted 05.25.2011 | Business
Jeffrey Rubin

The strongest manufacturing numbers coming out of the Chinese economy in a seven-month period, coupled with plunging oil inventories in the world's la...

Gentlemen's Agreements -- When Collusion Undermines Capitalism

Howard Steven Friedman | Posted 05.25.2011 | Business
Howard Steven Friedman

Collusion -- whether in OPEC or the MLB -- allows companies to benefit from anti-competitive behavior such as price fixing while the consumer suffers.

Saudi Oil Minister: Oil Prices 'Perfect'

AP | TAREK EL-TABLAWY | Posted 05.25.2011 | Business

CAIRO — Saudi Arabia's oil minister said current global oil prices are "perfect," as several key OPEC members indicated the group was unlikely t...

OPEC to keep present output

AP | GEORGE JAHN | Posted 05.25.2011 | Business

VIENNA — OPEC tried on Sunday to nudge oil prices up by urging its members to stop overproducing, but the cartel decided not to cut current outp...

OPEC's "Noble Cause"

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

OPEC announced today an additional production cut of more than 2 million barrels/day. And surprise, surprise: the price of oil fell by some three dollars a barrel. Sic Transit gloria!

Next Week's OPEC Meeting "Looney Tunes" and the Contango "High Step"

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

The ever obliging oil industry commentators and talking heads are falling all over themselves complimenting the Saudis for their seriousness in abiding by its OPEC allocation.

Russia Initiates Overtures to Obama While Plotting Energy Extortion

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

Russia's actions on OPEC have given the Obama administration an opportunity to show the American public and the world that the days of oil patch hegemony over Washington are at an end.

Oil Prices Dance Ahead Of September OPEC Meeting

AP | STEVENSON JACOBS | Posted 05.25.2011 | Business

NEW YORK — Oil prices shot up more than $5 a barrel Thursday, rising to the highest level in over two weeks as escalating tensions with Russia s...

No Production Boost From OPEC

AP | WILLIAM J. KOLE | Posted 05.25.2011 | Business

VIENNA, Austria — OPEC on Wednesday accused the U.S. of economic "mismanagement" that it said is pushing oil prices to new record highs and rebu...

Oil Jumps on Surprise Supply Drop

AP | JOHN WILEN | Posted 05.25.2011 | Business

NEW YORK — Oil surged Wednesday, rising a remarkable $5 a barrel to a new record over $104 after the government reported a surprise drop in crud...

OPEC: We'll Hold Oil Production Steady

AP | George Jahn | Posted 05.25.2011 | Business

OPEC decided Wednesday to keep output ceilings steady for now, in a move that briefly propelled crude prices above $90 a barrel. Other delegates said...

OPEC's Dilemma: Raise Or Hold Oil Supply

New York Times | JAD MOUAWAD | Posted 05.25.2011 | Business

After a year of dizzying gains for energy markets, a rapid fall in oil prices lately is posing a dilemma for OPEC, the oil-producing cartel. Should O...