OPEC

Recent comments by U.S. Energy Secretary Steven Chu appear to mark a radical shift in U.S. energy policy away from its focus on OPEC and oil supply and toward an agenda of trimming petroleum demand and promoting renewable energy at home.

Oil prices dropped nearly 10 percent on Monday as a deteriorating world economy threatened to cut further into fuel consumption, outweighing OPEC's strong compliance with supply curbs.

Oil prices dropped more than 10 percent on Monday as a deteriorating world economy threatened to cut further into fuel consumption and made OPEC's tight compliance with supply curbs look insufficient.

Oil fell below $41 Monday as a deteriorating world economy threatened to cut further into fuel consumption and made OPEC's tight compliance with supply curbs look insufficient.

Oil fell more than $3 a barrel to below $42 on Monday as a deteriorating world economy threatened to cut further into fuel consumption and made OPEC's tight compliance with supply curbs look insufficient.

Oil fell more than $2 a barrel to below $43 on Monday as a deteriorating world economy threatened to cut further into fuel consumption and made OPEC's tight compliance with supply curbs look insufficient.

Oil prices fell 1 percent on Friday, pulled lower by U.S. data showing the economy of the world's largest energy consumer shrank more than expected in the final three months of 2008.

Crude oil futures dropped more than 3 percent on Friday for the decline in four days after U.S. data showed economic activity had the largest quarterly decline since 1982.

U.S. oil prices jumped more than 6 percent to above $45 a barrel on Thursday on expectations OPEC will cut output again and on signs of a rebound in gasoline demand in top consumer the United States.

U.S. oil prices jumped more than 5 percent to over $44 a barrel on Thursday on expectations OPEC will cut output again and on signs of a rebound in gasoline demand in top consumer the United States. U.S. crude for April delivery gained $2.20 to trade at $44.70 a barrel by 1:45 p.m. EST. London Brent crude rose $1.60 to $45.89 a barrel. Support also came from U.S. government data released on Wedn...

Oil rose above $44 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March.

Oil rose above $43 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March.

Oil rose to $43 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March. Abu Dhabi National Oil Co , the main oil supplier in the UAE, said it will sell customers less of its flagship Murban crude oil and three other main grades in April than in March. The move ca...

whether Obama's package is able to put a floor to the slide in the broader economy.

whether Obama's package is able to put a floor to the slide in the broader economy.

whether Obama's package is able to put a floor to the slide in the broader economy.

Oil prices jumped 6 percent to above $42 a barrel on Wednesday, after a U.S. government report showed a sharp drop in gasoline inventories in the world's top consumer.

Oil shed on Wednesday some of the previous session's 4 percent gains but held above $39, after President Obama balanced his message of hope for the U.S. economy with a warning and ahead of data on U.S. oil stocks. Obama told Congress the United States would emerge stronger from its deepest economic slump in decades but said America faced a day of reckoning for its past excesses. The preside...

Oil ticked up above $38 on Tuesday as investors took a fresh look at OPEC's greater than expected success in cutting supplies. Prices had tumbled earlier following Monday's fall in U.S. stocks to a 12-year low. The plunge on the Wall Street on Monday overshadowed figures from Petrologistics that OPEC producers were likely to pump less oil in February than January. A Reuters calculation based ...

Oil fell toward $38 on Tuesday as global markets tumbled, dragged down by Monday's fall in U.S. stocks to a 12-year low. Economic worries grew after Wall Street sank on Monday as news the U.S. government was set to raise its stake in Citigroup failed to offset fears that a number of embattled U.S. banks could be nationalized. European stocks fell on Tuesday and Asian shares hit a th...

Oil prices extended declines on Tuesday, sliding toward $38 on growing economic worries after U.S. stocks slumped to a 12-year low at the previous day's close. Wall Street shares tumbled on Monday as optimism over reports that the U.S. government could take a bigger stake in Citigroup gave way to fresh questions about whether Washington is doing enough to stabilize the ailing banking...