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U.S. markets recover from steep losses
TEHRAN, Sept. 2 (UPI) -- Iran's oil minister Tuesday said the Organization of Petroleum Exporting Countries should discuss reining in excessive oil production.
"Some OPEC members are providing the market with excess supply and producing more than their OPEC quota," said Iranian Oil Minister Gholam Hossein Nozari, the Fars New Agency reported.
"Excess supply of oil affected prices in market and it is not only Saudi Arabia that has excess supply," said Nozari, who called $100 per barrel a "minimum" price for a barrel of oil.
Crude oil prices peaked July 11 at more than $147 per barrel but have declined in the past eight weeks, hitting $108.29 per barrel Tuesday on the New York Mercantile Exchange.
Oil ministers from OPEC meet Sept. 9 in Austria.
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BEIJING, May 24 (UPI) --
China National Offshore Oil Corp. announced Thursday it made a new oil discovery in the shallow waters of south Liaodong Bay.
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OTTAWA, May 24 (UPI) --
A planned shakeup in the command structure of Canada's 68,000-strong armed forces will save costs and also respond to criticism of government performance over the planned Canadian acquisition of the Joint Strike Fighter program.
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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...
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It is a whole new ball of wax in Europe these days.
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