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Surge in oil supply drives down prices

...78 a barrel in mid-July. They haven't settled above $62 a barrel since Oct. 1, despite the Organization of Petroleum Exporting Countries' announcement in mid-October that it would reduce output by 1.2 million barrels a day.
Juneau Empire Story Archive

...because it's so expensive.'' Gasoline prices have been rising steadily since last March, when the Organization of Petroleum Exporting Countries cut crude oil production by 7.5 percent, or more than 2 million barrels a day, to boost prices...
Juneau Empire Story Archive

LONDON - Oil ministers from Saudi Arabia, Venezuela and Mexico agreed today that oil exporting countries should boost production to ease global oil prices from their highest levels in nine years.
Juneau Empire Story Archive

...producer that is not an OPEC member, also planned to pump more oil as part of an agreement with the Organization of Petroleum Exporting Countries. Prices of crude oil tumbled on world markets. Iran's representative to OPEC, Hossein Kazempour...
Crude prices reach $100

Crude oil prices briefly soared to $100 a barrel Wednesday for the first time, reaching that milestone amid an unshakable view that global demand for oil and petroleum products will outstrip supplies.
Rising oil prices again poised to sidetrack state's fiscal fix

In political terms, the timing is lousy. Like governors before him, Gov. Frank Murkowski is trying to muster public support to finally end Alaska's chronic budget shortfalls. Higher-than-anticipated oil prices have bedeviled earlier attempts to balance state spending.
Venezuela, Iran seek to boost dialogue within OPEC

...communication." Venezuela and Iran have traditionally favored efforts to boost oil prices within the Organization of Petroleum Exporting Countries. Oil prices declined Tuesday amid concerns about sluggish growth in Germany and economic troubles...
Grocery prices may rise due to high cost of oil

...affect fuel prices? Answer: Experts say it's the supply-and-demand equation at work. The Organization of Petroleum Exporting Countries, with the agreement of several key oil-producing non-OPEC nations, began cutting its production...
Oil prices climb to 10-year high

...oil producer, is not a member of the Organization of Petroleum Exporting Countries but agreed last March to cooperate with...followed an agreement last year by the Organization of Petroleum Exporting Countries to trim back its production. Reduced...
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