1.
U.S. markets recover from steep losses
TEHRAN, Jan. 30 (UPI) -- Iranian Oil Minister Hossein Nozari" class="tpstyle">Gholam Hossein Nozari told Iranian Press TV Wednesday that there is no need for OPEC member states to increase production of crude oil.
OPEC, the Organization of Petroleum Exporting Countries, produces 40 percent of the world's oil and can lower oil prices worldwide by increasing supply. "There is no reason for the Organization of Petroleum Exporting Countries to raise output as we are approaching the warm season," Nozari said.
"The global crude market is stable and there is sufficient supply in the market," he told Irani Press TV.
Iran is OPEC's second largest producer after Saudi Arabia.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
