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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: oil production

oil production stories: 38 news summaries

21 - 38 of 38 Stories | << Prev 1 2

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Saudis to Boost Oil Output to Record Level

Kingdom aims to stabilize prices to protect oil market

Jun 14, 08 6:14 AM CDT
(Newser) - Saudi Arabia aims to put the brakes on oil prices by raising output to its highest ever, the New York Times reports. The kingdom resisted calls from President Bush earlier this year to boost production, but is now concerned that record oil prices could lead to lower demand in the... More »

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oil • Saudi Arabia • King Abdullah • OPEC • oil price • oil production

Analysts Say Oil Price Drop Is Long Way Off

Declining Asian demand could bring relief ... by early '09

Jun 9, 08 10:25 AM CDT
(Newser) - A reining-in of Asia’s demand for oil could help the global crude supply rebound, eventually dropping prices sharply, analysts tell Reuters. But the price relief likely won’t show up until the end of this year or early next, as data needed to help traders set prices is slow... More »

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Asian markets • gas prices • oil price • crude oil • oil production

Oil Prices Threaten
US-Saudi Relations

Washington loses leverage as Beijing gains clout with Riyadh

Jun 8, 08 6:46 AM CDT
(Newser) - The weakening dollar and rising oil prices are marring more than just the American economy: It’s also eroding the long-standing friendly relationship between the US and Saudi Arabia, the Los Angeles Times reports. A bleak economic outlook has cost the US clout with its oil-producing ally. “There’... More »

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China • Saudi Arabia • Asia • OPEC • United States • oil price • oil production • George W. Bush

Sharp Decline Seen in
Future Oil Supplies 

Industry may require massive cash infusion to keep up with demand: analyst

May 22, 08 11:50 AM CDT
(Newser) - The international agency that monitors oil supplies is preparing a very pessimistic forecast of future capacity, the Wall Street Journal reports, one that heightens worries over whether producers will be able to keep pace with exploding demand for oil. The International Energy Agency, whose previous models showed steady—and predictable—... More »

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solar energy • oil price • crude oil • oil production • oil supply

OPINION

 Bush, Stop Begging the Saudis 

Don't publicly ask for oil favors you won't get, WSJ writes

May 17, 08 1:23 PM CDT
(Newser) - Whichever adviser sent President Bush to plead with the Saudi king to help bring down oil prices should be canned, the Wall Street Journal opines. Bush had the same request turned down during a visit in January, and the rebuff is even more humiliating the second time around. If Bush... More »

MORE ABOUT:
Ben Bernanke • Saudi Arabia • King Abdullah • oil price • oil production • George W. Bush

 Saudis Won't Budge on Oil 

Leaders again dismiss Bush request for help reining in US gas prices

May 16, 08 6:26 PM CDT
(Newser) - Saudi Arabia's leaders today denied a request from visiting President Bush that they boost oil production to help ease rising gas prices, the AP reports. "Supply and demand are in balance today," the kingdom's oil minister said, with the commodity pushing $128 per barrel. "How much does... More »

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Saudi Arabia • oil price • oil production • George W. Bush

updated

Congress
Votes to Stop Stockpiling Oil

House and Senate want no more sent
to national reserve

May 13, 08 9:44 PM CDT
(Newser) - The House and Senate voted today for a pause in deposits to the Strategic Petroleum Reserve in an effort to stem rising prices, the Los Angeles Times reports. The White House expressed skepticism about the measure, but the Senate backed it 97-1 and the House passed a similar bill 385-25.... More »

MORE ABOUT:
Barack Obama • Hillary Clinton • Congress • oil • Senate • oil price • oil production • strategic petroleum reserve • Byron Dorgan

 OPEC May Boost
 Oil Output to
 Ease Prices 

Cartel may meet early and backpedal on current policy

May 9, 08 7:39 PM CDT
(Newser) - As crude hit $125 a barrel today, one OPEC member said the cartel may boost oil production to relieve prices, the New York Times reports. The move would conflict with OPEC's public stand that speculators, not oil supplies, have been keeping prices high. “We would consider among other... More »

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Saudi Arabia • OPEC • Libya • investment • gas prices • oil price • oil production • speculation • supply and demand

Speculation Not Driving Boom in Commodities

Surveyed economists name supply, demand as bigger factors

May 8, 08 4:29 PM CDT
(Newser) - A majority of economists think the upswing in food and energy prices is due to fundamental issues of supply and demand—and not driven by speculation, a Wall Street Journal survey finds; 51% pegged demand from China and India as the chief cause of the oil boom. More »

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China • India • investors • economist • food prices • oil price • oil production • speculation

Earnings

Exxon Profits Shoot Up 17%, But Still Miss Target

Rise smallest of the big three oil companies

May 1, 08 8:54 AM CDT
(Newser) - Exxon Mobil’s profits jumped 17% in the first quarter, but still fell short of expectations, Bloomberg reports. Exxon’s number, which was held back by drops in productions and refinery profit margins, looks shabby compared to the world’s other two largest oil companies, which posted 25% and 63%... More »

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ExxonMobil • earnings reports • oil refineries • oil price • oil production • first quarter earnings

Iraq to Net Record
$70B Oil Windfall

Congress calls for aid cuts after revenue forecast doubles

Apr 30, 08 2:58 AM CDT
(Newser) - US analysts estimate that record-breaking oil prices and a fall in insurgent attacks on pipelines will boost Iraq oil revenue this year to $70 billion—double earlier estimates, the Wall Street Journal reports. The latest figure has sparked a call among US lawmakers to demand that Iraq pay more of... More »

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Iraq • Iraq oil • oil price • oil production • Iraq reconstruction

OPEC Head Warns Oil Could Hit $200 a Barrel

Supply trouble, weak buck, speculation will keep price climbing

Apr 29, 08 5:26 AM CDT
(Newser) - The president of the oil-producing cartel OPEC has warned that the price of the black gold could spike as high as $200 a barrel. As crude hovered just below the $120 barrier, Chakib Khelil told an Algerian newspaper that disruptions in production in Britain and Nigeria, coupled with a weak... More »

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oil • OPEC • crude oil • oil production

Industrial Spying Charges Deepen Russia-UK Flap

Two with ties to Britain arrested for espionage in Moscow

Mar 20, 08 4:43 PM CDT
(Newser) - Two brothers, one with ties to a UK-Russia joint oil venture, have been arrested in Moscow and accused of industrial espionage, the BBC reports. Ilya and Alexander Zaslavsky were charged after yesterday's raid on oil giant TNK-BP, but analysts say Russia's interest in the matter goes beyond spying, as the... More »

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Russia • Alexander Litvinenko • spy • Gazprom • arrest • oil production • British-Russian relations • TNK-BP

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

Feb 21, 08 12:47 PM CST
(Newser) - Oil prices have jumped 16% in two weeks, and analysts tell the Christian Science Monitor the run-up couldn't come at a worse time. As the US economy flirts with recession, beleaguered consumers could end up spending their economic stimulus checks to cover even higher gas prices. The $101.32 per... More »

MORE ABOUT:
inflation • oil • OPEC • energy prices • recession • gas prices • oil price • crude oil • oil production • $100 a barrel oil

OPEC Holds
Oil Production Steady

As expected, consortium rebuffs
US call to boost supply

Feb 1, 08 1:00 PM CST
(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... More »

MORE ABOUT:
Iran • oil • Saudi Arabia • OPEC • recession • oil price • oil production

Traders Gamble on $200 Oil

Did you think $100 was high?

Jan 8, 08 6:24 AM CST
(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... More »

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

Iraq Pumping More Oil Than Before War

Increased security at northern pipeline credited with boost

Dec 17, 07 3:55 AM CST
(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... More »

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

Demand for Oil May Pass Output by 2012 

Experts see prolonged crisis as producers max out pumping ability

Nov 19, 07 10:07 AM CST
(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... More »

MORE ABOUT:
Exxon • solar energy • oil refineries • oil production • IEA • oil supply

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