Oil prices dipped below $75 a barrel Wednesday, a new 13-month low, as OPEC reduced its 2009 petroleum demand forecast amid signs that the global economy is headed for a severe downturn. tags Oil OPEC gasoline crudeLight, sweet crude for November delivery fell $2.95 to $75.68 a barrel on the New York Mercantile Exchange after earlier sliding to $74.57, the lowest trading level since Sept. 5, 2007. picked by ImNotBlue 1 year ago |
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To battle to slow a collapse in oil prices, OPEC announced a reduction in production by 1.5 million barrels/day for November. Crude oil has tumbled 57 percent from a July 11 record of $147.27 a barrel as the financial market crisis spreads, job cuts increase and fuel consumption slows. picked by chinook 1 year ago 0 comments edit related share politics |
They refused to honor the cartel's production cut. Saudi Arabia is the worlds's largest crude exporter. Their leaving OPEC could signal the death of the organization or at least the removal of its teeth. picked by bernardblack 1 year ago 11 comments edit related share world |
Record surges in crude prices have propelled the world into an era in which oil may never be cheap again. Instead of presenting its usual united but ineffectual demand for increased oil production to OPEC with the aim of reducing prices, G8 discussions focused on how best to curb demand. picked by chinook 1 year ago 1 comments edit related share plime.com |
the organization that was created in 1960 to stabilize prices, today wields less clout than it once did over the cost of crude. picked by melgesevad 2 years ago 0 comments edit related share world |
Crude oil rose, capping its biggest monthly gain in a decade, as the dollar weakened against the euro, bolstering the appeal of commodities. 1 comments edit related share worldOil climbed above $66 a barrel to a six-month high picked by chinook 6 months ago |
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A rough break down showing you where they come up with that outrageous price they are charging you to fill up your motorized vehicle. 0 comments edit related share plime.comI looked this up today, due to the fact that I'm seeing Obama tomorrow and wanted to think of a question about this, if given the chance. Worth the read. picked by muppetmaker 2 years ago |
Concerns about an impending terrorist strike are at the lowest point on record since the attacks of September 11, 2001, according to a new CNN/Opinion Research Corp. poll. picked by spocksmyhomeboy 1 year ago 0 comments edit related share plime.com |
Oil prices slipped Friday in volatile markets, with traders anticipating prices will rise on demand concerns. picked by vyoma999 1 year ago 4 comments edit related share plime.com |
The perfect storm that has swept oil prices to $132 a barrel may subside over the coming months as rising crude supply from unexpected corners of the world finally comes on stream, just as the global economic downturn begins to bite. picked by 2manyusernames 2 years ago 11 comments edit related share plime.com |
Nokia Corp. on Thursday said profits plummeted 90 per cent in the first quarter because of fading demand for mobile phones amid the worldwide downturn — but its shares surged as analysts had expected an even gloomier report. 2 comments edit related share plime.com...90%!!! picked by muppet 8 months ago |
It wasn't OPEC or Republicans trying to influence midterm elections. picked by robfouryqr 3 years ago 0 comments edit related share plime.com |
Within the lifetime of most of the present drivers of automobiles there will be no more gasoline. 1 comments edit related share world1925 New York Times editorial picked by Bornbad 4 months ago |
Americans' percentage of equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said Thursday. That marks the first time homeowners' debt on their houses exceeds their equity since the Fed started tracking the data in 1945. picked by 2longdogs 2 years ago 0 comments edit related share politics |
The cartel is set to cut 1 million barrels of production but that may actually force prices lower in the long run. picked by robfouryqr 3 years ago 0 comments edit related share plime.com |
The International Energy Agency cut its five-year forecast for global oil demand Tuesday, saying the market will tighten as production becomes more sluggish and as booming prices compel more consumers to park gas-guzzling autos. picked by aus 1 year ago 0 comments edit related share plime.com |
Oil prices have risen more than 50 per cent since the start of the year, though the price hit an all-time high of $99US last month. 5 comments edit related share plime.comThe good news is that I think this will encourage more people to buy more fuel efficient vehicles and make energy-saving changes to their homes. picked by tundramonkey 2 years ago |