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GM to recall 231,000 vehicles with fire hazard
VIENNA, Dec. 12 (UPI) -- Oil ministers in Vienna said said the Organization of Petroleum Exporting Countries would keep their production quota intact, citing economic uncertainties.
"Given demand uncertainties, the (OPEC) conference decided to maintain the current production level of 30 million barrels per day," OPEC said.
The oil cartel said that price volatility in 2012 was influenced by more than supply and demand. "Ministers noted that the price volatility witnessed throughout 2012 remained mostly a reflection of increased levels of speculation in the commodities markets, exacerbated by geopolitical tensions and latterly, exceptional weather conditions."
The conference of ministers also "observed the mounting pessimism over the global economic outlook," naming the sovereign debt crisis in the eurozone, high unemployment in advanced economies and "inflation risk in the emerging economies."
OPEC also said demand is expected to rise "slightly" in 2013, but that increased production from other nations would make up the difference.
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REYKJAVIK, Iceland, June 19 (UPI) --
Iceland's new prime minister this week cited the country's mackerel fishing dispute with the European Union as a prime example of the value of sovereignty.
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PARIS, June 18 (UPI) --
Engine-maker Pratt & Whitney has announced delivery of its 100th F135 propulsion system to the U.S. government for the F-35 Lightning II fighter.
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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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