The Organisation of the Petroleum Exporting Countries (OPEC) will not be reducing its oil output in order to support prices as the price of oil has fallen to $45 per barrel, says one United Arab Emirates official. UAE energy minister Suhail bin Mohammed al-Mazroui told a Gulf … [Read more...]
U.S. Consumer Prices Fall Amid Lower Oil Prices
With every piece of good economic news comes some bad financial news. Amid declining energy prices, United States consumer prices fell in the month of November, a sign that inflation levels will still remain below the Federal Reserve's target rate of two percent just before we ring … [Read more...]
Texas oil company ordered to stop accepting bitcoin
An oil and gas company has been required by a Texas state securities regulator to stop accepting bitcoins as payment for investments in its Texas oil wells, according to a statement issued by the top watchdog in the Lone Star State. John Morgan, the Texas Securities Commissioner, … [Read more...]
OPEC Leaves Oil Production Quota at 30 Million Barrels Per Day
As expected, OPEC ministers agreed at a Nov. 12 meeting to keep their daily crude production target at 30 million barrels a day. The 12-nation organization hopes to keep crude prices up, in spite of increased US oil production and a weakened global economy, which OPEC calls the … [Read more...]
