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  • Gasoline To Rise Another 20 Cents Per Gallon: EIA Monday, 12 Nov 2007 | 2:46 PM ET
    Gas Pump

    The average price U.S. consumers pay for gasoline should rise by another 20 cents a gallon over the next two to three weeks, because not all of the recent jump in crude oil prices has been passed on to consumers at the pump, the EIA said.

  • Talk of OPEC Output Boost Premature: Saudi's Naimi Sunday, 11 Nov 2007 | 10:50 AM ET

    Saudi Arabia, the world's top oil exporter, said on Sunday that it was premature to talk about an OPEC increase in oil output but group members would discuss the issue at an upcoming meeting.

  • OPEC Raises Oil Output in October : Reuters Survey Friday, 2 Nov 2007 | 9:53 AM ET

    OPEC raised oil production last month in response to record-high prices above $90 a barrel and in advance of a formal deal to lift supply, a Reuters survey showed on Friday.

  • Oil 'Bubble' Will Burst: Iran Oil Minister Wednesday, 31 Oct 2007 | 7:43 AM ET
    Oil Pipeline

    An oil price "bubble" was not due to any shortage but was fuelled by global political tensions, a leading Iranian oil official told the state broadcaster.

  • OPEC Minister: 'The Market Is Out of Control' Tuesday, 30 Oct 2007 | 7:49 AM ET
    Oil Barrels

    OPEC has no power over many of the factors buffeting oil markets and the group is worried by record high prices that are threatening the world economy and future demand growth, OPEC ministers said on Tuesday.

  • OPEC Sec-Gen Says Cartel Implementing Output Rise Wednesday, 24 Oct 2007 | 6:19 AM ET

    OPEC Secretary-General Abdullah al-Badri said on Wednesday the group was implementing a decision taken in September to increase production by 500,000 barrels per day (bpd).

  • OPEC Oil Output Rises in October: Petrologistics Tuesday, 23 Oct 2007 | 5:58 AM ET

    OPEC is already raising oil supply in response to record prices and in advance of its deal to increase output from November, a consultant who tracks tanker movements said on Tuesday.

  • OPEC Says Has Done Enough to Cool Record Oil Price Tuesday, 16 Oct 2007 | 8:39 AM ET

    OPEC has done its utmost to satisfy the world's demand for fuel and pumping even more crude will do little to halt oil's rally towards $88 a barrel, officials said on Tuesday.

  • OPEC Raises Forecast, Optimistic About U.S. Monday, 15 Oct 2007 | 8:37 AM ET

    OPEC on Monday raised its forecast for demand for its oil this winter and said it appeared more likely that top consumer the United States would avoid a steep economic slowdown.

  • No Need for OPEC to Boost Oil Output: Qatar Monday, 1 Oct 2007 | 9:18 AM ET

    More crude supply from OPEC would do little to ease $80 oil as speculative investment flowing into the market from other assets is boosting the price, Qatar's oil minister said on Monday.

  • Oil Closes Up at $82.88 on Supply Fears, Fund Action Thursday, 27 Sep 2007 | 4:11 PM ET
    Oil Pipeline in Germany

    Oil rose sharply to $83 per barrel on Thursday, as a weak dollar and supply worries ahead of the winter heating season encouraged buying by financial investors

  • Oil Closes Above $80 on New Storm Fear Wednesday, 26 Sep 2007 | 4:10 PM ET
    Oil Refinery in California

    Oil prices, which briefly dropped below $79 per barrel on Wednesday, jumped back up late in the afternoon to close over $80, as traders weighed a U.S. government report showing a surprise increase in the nation's crude inventories against concerns that a new storm could be brewing in the Gulf of Mexico, threatening production.

  • Oil Closes Below $80 on U.S. Gulf Output Resurgence Tuesday, 25 Sep 2007 | 4:24 PM ET
    Oil Refinery in California

    Oil dropped below $80 per barrel Tuesday, as more U.S. production in the Gulf of Mexico came back online after being shut by foul weather last week.

  • Oil Closes Below $81; Traders Ponder Peak Monday, 24 Sep 2007 | 3:55 PM ET
    Oil Refinery in California

    Energy futures fell Monday after a tropical depression that moved through the Gulf of Mexico late last week turned out to be a dud. But investors also tried to determine if oil futures' recent record-setting run above $80 per barrel had run its course.

  • Oil Slips Below $82 But Gas Prices Are Set To Rise Friday, 21 Sep 2007 | 4:23 PM ET

    Oil prices fell Friday as investors sold to lock in profits, but analysts doubt oil's record-breaking run is over and say gasoline prices are about to start following oil higher.

  • Oil Closes Above $83 on Weak Dollar, Storm Fears Thursday, 20 Sep 2007 | 5:56 PM ET
    Oil Pipeline

    Oil closed over $83 per barrel in the seventh straight record-breaking session, as companies shut Gulf of Mexico output on forecasts a tropical depression would become a storm.

  • Oil Hits New High Over $82 On Supply Fears Wednesday, 19 Sep 2007 | 4:25 PM ET
    Oil Refinery

    Oil struck a new record over $82 Wednesday as falling U.S. inventories and the threat of a storm gathering near Florida renewed supply concerns in the world's biggest energy consumer.

  • Oil Hits Record Highs as Fed Cuts Interest Rates Tuesday, 18 Sep 2007 | 3:47 PM ET
    Oil Refinery

    Oil futures rose to new records Tuesday after the Federal Reserve cut interest rates by a larger-than-expected half percentage point, raising market hopes that economic growth will accelerate and lift demand even as crude oil and gasoline inventories are tight.

  • OPEC Would Discuss Output Hike if $80 Oil Lasts Tuesday, 18 Sep 2007 | 5:38 AM ET
    Oil Refinery

    OPEC would likely hold consultations about boosting supply again if the price of oil stayed above $80 a barrel for more than 15-20 days, an OPEC source said on Tuesday.

  • Goldman Sachs Forecasts Crude to Hit $85 By Year-End Monday, 17 Sep 2007 | 4:08 PM ET
    Oil Pipeline

    Goldman Sachs on Monday forecast U.S. oil prices will surge to $85 by the end of the year, and said crude could climb as high as $90 due to tight supplies.