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Gallup: Family of four needs an average $58,000 a year
TEHRAN, June 9 (UPI) -- Iranian oil industry official Mohammad Ali Khatibi said hard times and over-production by three oil cartel members were responsible for falling oil prices.
The production cap set by the Organization of Petroleum Exporting Countries is 30 million barrels per day, the Islamic Republic News Agency reported Saturday.
But certain OPEC members were over-producing, Khatibi said, naming Saudi Arabia, Kuwait and the United Arab Emirates as the most flagrant quota violators.
Khatibi also blamed the economic downturn in Europe and the United States for declining oil prices.
He said the Iran sent a letter of protest concerning the quota violations to the head of OPEC, IRNA reported.
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TEHRAN, May 21 (UPI) --
Iran will invest $16 billion in development of the offshore South Pars gas complex over the next 10 months, a natural gas company director said.
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RIO DE JANEIRO, May 20 (UPI) --
Sweden's Saab is upgrading its bid for Brazil's FX-2 jet fighter purchase plan, even as it weighs challenges from rivals Boeing and France's Dassault.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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