OPEC
Oil reaches new highs for '09 as OPEC regains footing 
Oil prices hit new highs for the year today as investors geared up for the potential of more OPEC production cuts. Benchmark crude for April delivery gained $2.01 to $47.53 a barrel on the New York Mercantile Exchange. Prices reached as high as $48.83 earlier in the day.
By Dirk Lammers , March 09, 2009
Asian stocks sink; Tokyo hits 26-year low
Investors continued to shun banks on worries the financial sector still hasn't raised enough capital to make up for its massive losses on bad assets. Heavyweight lender HSBC, Europe's largest bank, plunged over 24 percent in Hong Kong trade.
By Jeremiah Marquez , March 09, 2009
Oil tops $45; many think bottom may have been hit
Every day this week arrived with more evidence that energy usage is unlikely to bounce back soon, yet some experts believe oil prices may already have struck bottom. Light, sweet crude for April delivery rose $1.91 to settle at $45.52 today on the New York Mercantile Exchange. It was the second time crude settled above $45 in one week, which hasn’t happened since the first week of the year.
By Chris Kahn , March 06, 2009
As recession saps demand, world goes awash in oil
Supertankers that once raced around the world to satisfy an unquenchable thirst for oil are now parked offshore, fully loaded, anchors down, their crews killing time. In the U.S., vast storage farms for oil are almost out of room.
By Chris Kahn , March 04, 2009
OPEC cuts fail to boost oil prices
Gasoline prices continued a weeklong decline today, down almost a penny to $1.91 overnight according to auto club AAA, Wright Express and the Oil Price Information Service. Gas prices were 6.3 cents lower a month ago but $1.233 higher last year.
By Chris Kahn , February 23, 2009
Oil rises above $40 in Asia as investors eye weakening demand, OPEC production cuts
Benchmark crude for April delivery rose 40 cents to $40.43 a barrel by late afternoon in Singapore on the New York Mercantile Exchange. The contract fell 15 cents to settle at $40.03 on Friday.
By Alex Kennedy , February 23, 2009
Oil hovers near $37 in Asia; outlook for crude demand worsens
OPEC's output cuts have helped keep prices from falling further. Leaders of the Organization of Petroleum Exporting Countries have said they may add to 4.2 million barrels a day of cuts announced since September at a meeting next month.
By Alex Kennedy , February 17, 2009
Oil rises to above $34 amid investor concern U.S. recession deepening
Investors are worried that the worst U.S. recession in decades could be deepening, and taking demand for crude down with it. Job losses are a particular concern as unemployment drags on consumer spending.
By Alex Kennedy , February 13, 2009
Oil slides toward multiyear lows
Pump prices still rising as refineries cut back on productionOil prices slid closer to a new multiyear low today because of growing doubts that the $789 billion stimulus package will reinvigorate the economy and demand for energy. But retail gas prices reached a new high for 2009 today and appeared headed back to $2 a gallon as refiners cut back on production. Unleaded gas prices this morning in Grand Forks and East Grand Forks were around $2 a gallon.
By Mark Williams , February 12, 2009
Oil lingers near $36 in Asia; rising U.S. crude inventories fuel demand concerns
Oil prices lingered near $36 a barrel today in Asia, following a steep fall overnight, as surging crude inventories in the U.S. stoked investor concern that consumer demand will continue to fall amid a deep recession.
By Alex Kennedy , February 12, 2009
Oil languishes below $42
Caught between dismal U.S. economic numbers and news of possible further OPEC cuts, oil prices hovered today near their previous close below $42 a barrel.
By Jake Neubacher , January 30, 2009
Oil hovers near 4 1/2-year low as demand concerns overshadow largest-ever OPEC output cut
Light, sweet crude for January delivery edged up 47 cents to $40.53 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. Earlier, it fell as low as $39.19 - a level not seen since at least July 2004.
By Pablo Gorondi , December 18, 2008
Oil tumbles to four-year low despite huge OPEC production cuts
Oil prices tumbled to new four-year lows today despite OPEC’s announcement of a record 2.2 billion-barrel crude production cut from OPEC, with markets already pricing in a vastly reduced flow of oil.
By Chris Kahn , December 17, 2008
Oil prices sink on Saudi talk of production cut
Oil prices fell today after OPEC powerhouse Saudi Arabia said oil production would be cut by 2 million barrels per day to stem declining crude prices.
December 16, 2008
Gas briefly ends decline — first time in 3 months
Retail gasoline prices rose over the weekend for the first time in nearly three months, though crude prices fell today ahead of an OPEC meeting in Algeria where oil producing countries are expected to announced huge production cuts.
December 15, 2008
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