The Organization of Petroleum Exporting Countries says the ongoing European governmental debt crisis could cut global oil consumption this year. OPEC on Monday left its forecast for 2012 oil demand unchanged at nearly 89 million barrels a day. But the 12-nation cartel, which produces about 40 percent of the world’s oil, said that if Europe’s […]
OPEC: Europe’s Debt Crisis Could Cut 2012 Oil Consumption
Posted January 16th, 2012 at 3:25 pm (UTC-5)
Leave a comment
OPEC Says World Oil Demand Is Slowing
Posted October 11th, 2011 at 12:00 pm (UTC-5)
The oil-producing OPEC cartel has for the fourth straight month trimmed its estimate of world demand for oil for the rest of this year and in 2012. The 12-nation Organization of the Petroleum Exporting Countries said Tuesday that the demand for oil will still grow this year and next, but not by as much as […]
Prices Rise After OPEC Says No New Deal On Oil Production
Posted June 8th, 2011 at 10:05 am (UTC-5)
Members of the Organization of Petroleum Exporting Countries did not reach a new agreement on oil production quotas at Wednesday’s meeting in Vienna. Oil prices rebounded in New York and London after the news. Oil prices had been declining in anticipation that OPEC members might work out a deal to boost production. The OPEC nations […]
