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Venezuelan Foreign Minister Rafael Ramirez speaks to journalists ahead of the166th ordinary meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria.

Will Venezuela default? Investors think so

Dec 23, 2014
Oil, whose price has halved in the past year, accounts for 95 percent of the country’s exports and 45 percent of the government’s budget.
Posted In: venezuela, Oil, oil prices, OPEC
A meeting of the Organization of the Petroleum Exporting Countries, OPEC, at its headquarters in Vienna.

Why won't OPEC cut production ?

Dec 22, 2014
Members of the oil cartel could get higher prices if they cut production but there would be a cost.
Posted In: OPEC, cheap oil, Saudi Arabia

OPEC is stuck between lots of oil and a hard place

Nov 27, 2014
With oil prices falling, the group will have to give up market share or profits.
Posted In: oil prices, OPEC

Market forces catch up to OPEC

Nov 26, 2014
Changes in global supply and demand have weakened OPEC's influence in the market.
Posted In: crude oil, OPEC, oil price

Saudi Arabia is losing its grip on oil

Oct 2, 2014
A global glut of oil has potential to pit key suppliers in a price war.
Posted In: Oil, OPEC, energy, Environment, fuel
Pump jacks

Oil from fracking may end U.S. ban on exporting oil

Jun 25, 2014
Ultralight oil made by fracking is seeping through cracks in the U.S. ban on oil exports.
Posted In: crude oil, OPEC

How America helped weaken OPEC

May 30, 2013
The boom in U.S. oil production has disrupted global oil’s pecking order and caused fractures inside the once all-powerful OPEC.
Posted In: big oil, OPEC, crude oil, Oil, Nigeria

2012 was a gusher year for OPEC

Dec 31, 2012
OPEC earned a record $1 trillion in revenues in 2012, and the average price of oil was the highest ever.
Posted In: Oil, OPEC

Is the U.S. at risk of another OPEC oil embargo?

Oct 2, 2012
The OPEC oil embargo nearly 40 years was a shock to the U.S. and its economy. But the long-term effects proved a shock to Saudi Arabia and other OPEC members, who learned that oil and politics don't mix.
Posted In: Saudi Arabia, OPEC, Oil, energy

Oil, gas prices should remain relatively steady

Dec 14, 2011
The Organization of Petroleum Exporting Countries agreed this morning to maintain global production at about 30 million barrels of oil per day.
Posted In: Oil, gas prices, OPEC

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