OPEC to discuss global crisis, crude prices

Oct. 10, 2008

OPEC said Thursday it will hold an extraordinary meeting Nov. 18 to discuss how the widening global financial crisis is affecting oil prices, a move that could lead to a coordinated production cut in a bid to halt crude's steep losses. In a statement...

Oil projects in jeopardy as prices fall

BARCELONA, Spain, Nov. 19 (UPI) -- The declines in the world crude oil market may force oil majors to postpone future projects even if prices remain steady, Chinese officials said.

Crude oil prices close lower

NEW YORK, Nov. 19 (UPI) -- Crude oil prices dropped Wednesday on the New York Mercantile Exchange as U.S. inventories of crude oil and gasoline increased last week.

Crude oil prices ignore winter's chill

NEW YORK, Nov. 18 (UPI) -- Crude oil prices fell Tuesday on the New York Mercantile Exchange, despite a cold front gripping the U.S. Northeast and Midwest.

Crude oil prices down Monday

NEW YORK, Nov. 17 (UPI) -- Crude oil prices fell to $55.01 a barrel on the New York Mercantile Exchange Monday as cold weather settled in for much of the Midwest and Northeast.

Oil demand projections for 2009 trimmed

PARIS, Nov. 13 (UPI) -- The International Energy Agency in Paris cut its projections for global crude oil demand for 2009 by 670,000 barrels per day Thursday.

Crude oil prices rise Thursday

NEW YORK, Nov. 13 (UPI) -- Crude oil prices rallied on the New York Mercantile Exchange Thursday after falling to a 22-month low in the previous trading session.

Crude oil prices down as demand falters

NEW YORK, Nov. 12 (UPI) -- Lower gas consumption and a gloomy economy conspired to lower crude oil prices Wednesday.

OPEC plans early meeting, Iran says

TEHRAN, Nov. 10 (UPI) -- The Organization of Petroleum Exporting Countries may convene earlier than its Dec. 17 meeting if oil prices continue to drop, officials said Monday.

Kazakhstan to slash export duties

ASTANA, Kazakhstan, Nov. 10 (UPI) -- The government of Kazakhstan said Monday it plans to cut its crude oil export duties by 45 percent in an effort to reduce the impact of falling prices.

Russia to restructure crude export duties

MOSCOW, Nov. 10 (UPI) -- Moscow may convert its crude export duties from a two-month mechanism to a one-month mechanism to increase financial maneuvering, officials said Monday.

Crude oil prices edge up slightly Friday

NEW YORK, Nov. 7 (UPI) -- Crude oil prices edged up slightly on the New York Mercantile Exchange Friday, a day after reaching a 19-month low.

UPI Energy Watch

Production cut, oil prices continue to fall; North Sea oil production threatened; India, Russia talk joint energy projects.

Gazprom sees 10 percent cut in oil output

MOSCOW, Nov. 5 (UPI) -- The Organization of Petroleum Exporting Countries may cut production by 10 percent if world crude prices do not recover, Gazprom said Wednesday.