MIAMI, Dec. 30 (UPI) -- Latin America's petroleum-producing nations had their dreams of windfall riches dashed when record-high oil prices in 2008 plummeted to their current levels.

MIAMI, Nov. 26 (UPI) -- Russian oil companies are expressing an interest in tapping Cuba's offshore oil potential ahead of an official state visit by Russian President Dmitry Medvedev.

WASHINGTON, Nov. 3 (UPI) -- Declining gasoline prices have taken some of the punch out of the political stump speech that revolves around U.S. oil independence, observers said.

MIAMI, Oct. 29 (UPI) -- Production at Brazil's newly discovered offshore oil fields may be delayed by the lack of legislation to oversee the finds, according to energy officials.

Brazil has just tapped into the first of its newfound pre-salt oil discoveries, and already lawmakers are looking for ways to spend the expected multibillion-dollar windfall.

Bolivian leader Evo Morales traveled to Tehran to bolster energy and political ties with Iran, a move that is certain to raise eyebrows in Washington.

MIAMI, Aug. 27 (UPI) -- Brazil is preparing to expand its search for additional offshore oil fields beyond its most recent finds off the coast of Sao Paulo state.

MIAMI, Aug. 13 (UPI) -- Brazil has discovered yet another offshore oil field, this time a light-crude find neighboring the 5 billion to 8 billion barrel Tupi oil field discovered last year.

MIAMI, June 18 (UPI) -- A consortium of Brazilian and foreign oil companies has discovered yet another oil field off the coast of South America's largest country, adding to the already multibillion-barrel reserves found in Brazilian waters in recent years.