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Crude oil pushes toward $96
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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TEL AVIV, Israel, May 17 (UPI) --
Nobel Energy of Houston, which discovered Israel's big gas fields in the eastern Mediterranean, is pressing the government to decide soon on an energy export policy as the prospect of an undersea pipeline to Turkey gains credibility.
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TEL AVIV, Israel, May 17 (UPI) --
mid growing concerns about security threats from Syria and Iran, Israeli Prime Minister Binyamin Netanyahu has greatly reduced planned defense budget cuts.
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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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