By Shigeru Sato and Yuji Okada
Dec. 8 (Bloomberg) — Crude oil rebounded from six days of declines as OPEC’s president said the group may make a “significant” output reduction and U.S. President-elect Barack Obama pledged the biggest public works program in about 50 years.
A “severe” cut may be needed to halt the more than [...]
By Nesa Subrahmaniyan and Gavin Evans
Oct. 20 (Bloomberg) — Crude oil rose for a second day in New York on speculation OPEC will lower output in an attempt to halt a slide in prices, which have fallen more than 50 percent from July’s record.
OPEC, supplier of about 40 percent of the world’s oil, favors [...]
By Grant Smith and Christian Schmollinger
Oct. 14 (Bloomberg) — Crude oil rose in New York, heading for its biggest two-day gain in three weeks, on speculation the U.S. government will invest $125 billion in nine banks, helping to stave off a global recession.
Oil followed stock markets higher after people briefed on the package said [...]
By Margot Habiby
Oct. 7 (Bloomberg) — Crude oil rose for the first time in a week, halting a 13 percent decline in the past four days, amid speculation OPEC will curb output because of falling prices.
Oil increased as Libya’s top oil official called for a production cut, and Qatar’s oil minister said the country [...]
By Margot Habiby
Oct. 6 (Bloomberg) — Crude oil fell for a fourth day as the credit crisis deepened in Europe, adding to concern that global economic growth will slow and reduce demand for fuels.
Oil dipped as low as $88.89 a barrel after European leaders pledged to bail out troubled banks and protect depositors. OPEC [...]
By Matthew Walter
Oct. 6 (Bloomberg) — President Hugo Chavez has figured out how to use Venezuela’s vast oil reserves to increase his regional influence while diminishing U.S. clout: He all but gives it away.
The self-proclaimed socialist revolutionary is allowing impoverished U.S. allies such as Honduras and the Dominican Republic to buy discounted oil with [...]
By Mark Shenk and Margot Habiby
Sept. 12 (Bloomberg) — Crude oil rose from a five-month low as Hurricane Ike headed toward a near-direct hit at Houston, the busiest U.S. refining center.
About 12 percent of U.S. refining capacity is being shut before Ike makes landfall tomorrow. The Gulf Coast region is home to 26 percent [...]
