OPEC
OPEC policies will ensure oil price volatility
Oil prices in 2008 could fluctuate widely as in 2007 when Brent traded between $50 and $100.
Opec officials meeting this week in Vienna blame speculators for most of this volatility. But growing price volatility stems directly from Opec’s increased importance in balancing markets. Speculative flows accentuate price movements, but the producer group is their prime [...]
Iran resumes gas supplies to Turkey: report
ANKARA (AFP) - Iran began pumping natural gas to Turkey on Sunday after cutting supplies for three weeks, but the flow was far less than normal, the Anatolia news agency reported.
The gas began flowing at around 4:00 pm (1400 GMT) at a rate of between 1.5 and 2.0 million cubic metres a day, far bellow [...]
Gasoline black market thrives in Iran
BANDAR ABBAS, Iran - Each day, the boulevard in this port city derisively dubbed “OPEC Street” is lined with dozens of vendors selling plastic jugs of black-market gasoline to desperate drivers who haggle over the price of a tankful.
Iran is the world’s fourth-largest producer of oil. But its government imposed gasoline rationing last year in [...]
OPEC shrugs off pleas to raise supply of crude oil
OPEC yesterday dismissed further calls to boost oil output from top consumer the United States, saying the global market is well supplied and the producer group has little control over oil prices near US$90 (HK$702) a barrel.
Qatar’s oil minister said there is no need for OPEC to boost output at its February 1 meeting.
In the [...]
