The International Energy Agency released its monthly oil report this morning. News headlines trumpeted the agency’s forecast of reduced demand for the fifth consecutive month. However, the market has jumped all over a forecasted decline in Non-OPEC oil production of 300,000 barrels per day.    Read More

High prices mean these, and other key producing countries, don’t need the incremental revenue. They are getting plenty of revenue through price, they don’t need to get it through volume.   Read More

President George W. Bush and Sen. John McCain went to bat on energy policy this week. And guess what? They both struck out. Bush went hat in hand to the Saudis to ask for more oil production in order to bring down world prices.   Read More

With oil prices topping $112/barrel and some analysts predicting the next stop to be $120, will OPEC finally step in and add crude to the market to tame prices? I doubt it will happen.   Read More

Even with oil at $100, OPEC is set to rebuff calls to raise production outputs in its meeting Wednesday. What could that mean for surging commodity prices?   Read More

You'd expect oil prices to take a bit of a breather after yesterday's record-breaking run that took NYNEX crude oil futures to an all-time high of $103.95/barrel intraday, surpassing the inflation-adjusted record reached more than a quarter century ago.   Read More

OPEC meets at the end of the week and you have to assume they will get together and have a good laugh. Americans are drowning in sub prime slime, a single French trader made $7.2 billion disappear, and all the while OPEC members are wallpapering their palaces with dollars.    Read More