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August 21, 2008 6:45:29 PM CDT

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Stories related to: oil production

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  • February 2008

    • OPEC Holds Oil Production Steady

      Bloomberg  |  Feb 1, 08 1:00 PM CST

      OPEC Holds Oil Production Steady

      (Newser) - OPEC dashed American hopes for a boost in oil production today, Bloomberg reports. The US and other Western nations wanted more oil on the market to lower prices, but OPEC decided to hold production steady. The consortium, which supplies 40% of the world's oil, is worried that the flagging world economy will reduce demand. More »

      Tags

      Iran  • oil price  • recession  • oil  • Saudi Arabia  • OPEC  • oil production

  • January 2008

    • Traders Gamble on $200 Oil

      Bloomberg  |  Jan 8, 08 6:24 AM CST

      Traders Gamble on $200 Oil

      (Newser) - You thought $100 a barrel was high. Options to buy oil for $200 a barrel have grown tenfold on the Nymex exchange in recent weeks, Bloomberg reports. Speculators use oil futures to bet on expected price hikes. While $200-a-barrel options remain only a small proportion of the total, the number has been going up as traders gamble that events could cause oil prices to climb even higher than record highs. More »

      Tags

      oil price  • crude oil  • oil production  • $100 a barrel oil  • futures market

  • December 2007

    • Iraq Pumping More Oil Than Before War

      BBC  |  Dec 17, 07 3:55 AM CST

      Iraq Pumping More Oil Than Before War

      (Newser) - Thanks largely to increased security, Iraq is now producing more oil than it was before the war began in 2003, according to the International Energy Agency. The output is up to 2.3 million barrels per day from 1.9 million barrels daily at the beginning of the year. Protecting Iraq's main northern pipeline to Turkey from sabotage attacks accounted for most of the jump, according to the IEA. More »

      Tags

      Iraq  • Iraq war  • oil  • Turkey  • oil production  • solar energy

  • November 2007

    • Demand for Oil May Pass Output by 2012

      Wall Street Journal  |  Nov 19, 07 10:07 AM CST

      Demand for Oil May Pass Output by 2012

      (Newser) - Production limits, not supply, could prompt an oil crisis in less than a decade as efforts to reduce demand and introduce alternative fuels trail growth in the world’s oil needs, the Journal reports. Oil companies currently produce 85 million barrels daily; some experts say they'll hit a wall at 100 million barrels—far below projected world demands, and a recipe for shortages and skyrocketing prices. More »

      Tags

      oil production  • oil supply  • solar energy  • Exxon  • oil refineries  • IEA

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