Oil Articles

Oil and Gas Inventories Tanked

With U.S. stockpiles declining and oil prices rising, prices at the pump seem to be in further trouble. Light sweet crude prices closed at $52.50 after dropping below $50 a share earlier in the week. Brent crude also closed higher, up 80 cents for the day.

OPEC Ups Production as Oil Prices Sit

OPEC announced a kick up in oil production yesterday as oil prices hover around $51 a barrel. The 500,000 bpd increase marks the second increase in two months when OPEC minister met last month and increased production 500,000.

Midday Swing Bats Oil Prices Back Up

Light sweet crude climbed back over the $51 mark on Tuesday signaling what some experts say may be a seasonal low. The market has dropped $8 since it hit its high a couple of weeks ago and it dropped to $49.66 at one point yesterday before finishing $50.37 and shot up to $51.65 in today’s trading.

Oil Prices Sink To Nearly $50

Oil prices have gone down to nearly $50 a barrel with signals that supplies are growing.

Oil Drops Over $1 On Report of Rising Supplies

Oil prices fell over $1 a barrel today after data showed evidence of rising supplies in the U.S.

Oil Back Up After Seven-Week Low

Oil prices went back up after reaching a near seven-week low based on fear that the U.S. won’t refine enough gasoline to live up to demand.

Oil Down For 8 Out Of 9

Oil prices fell were down for the eighth session out of nine to their lowest in six weeks.

Oil Prices Take Another Turn

Oil prices went back down 3% after the International Energy Agency said that demand is slowing.

Oil Prices Gain For First Day In Six

Oil prices rose for the first day in six with speculation of an increase in demand limting increases in gasoline inventories.

Oil Prices Fall For Longest Time Since 2003

Oil prices fell for the sixth day in a row in what is the longest they have continued to fall since October 2003.

Oil and Gas Prices Fall

Oil prices fell more than $1 a barrel with inventories in the U.S. increasing and gasoline futures falling.

IMF Predicts Large Growth in Oil Consumption

The International Monetary Fund (IMF) says that oil consumption will grow a lot in the coming decades.

Oil Up On Fallen Gas Supplies

Oil prices went up with a report showing that gasoline supplies in the United States have fallen.

Gas Supplies Decrease, Oil Prices Increase

Gas supplies have gotten lower in the United States and as a result, oil prices have gone up.

Oil Eases After Hitting Record Highs

After going up to record of over $58 a barrel, oil prices have gone back down with production being able to meet demand.

The Oil Industry’s Largest Acquisition Since 2002

ChevronTexaco has agreed to buy Unocal for $16.4 billion in a deal which analysts predict will trigger more large acuisitions in the industry.

Oil Continues to Climb

With OPEC to discuss a second increase in output, oil prices have jumped to over $58 a barrel.

Oil Jumps Over $58 With OPEC Set to Discuss Output Increase

OPEC will be discussing a second increase in output which has caused oil prices to jump to over $58 a barrel.

Oil Up After Fears From Report

Oil prices have gone up to above $57 a barrel with traders fearing that the prices will get up over $100.

Oil Prices Up After Prediction of Huge Rise

Oil prices shot upward after Goldman Sachs predicted that they will rise to $105 a barrel.

Oil Prices Rise Again

Oil prices went back up even though an increase in inventories was announced, and OPEC said that there was no supply problem.