Geopolitics key to oil price control
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OPEC production levels are increasing to meet escalating demand but over-inflated prices can only be brought down by resolving global conflicts, the organisation&#39;s president has said.
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The world&#39;s oil supply has never seemed so precarious. The war in Iraq has cast a shadow over that country&#39;s ability to export crude.
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HOUSTON  War in Iraq. Instability in Venezuela. Civil unrest in Nigeria. Governmental wranglings in Russia. With so much uncertainty in so many of the world&#39;s leading oil-producing ...
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The threat of $50 a barrel for the New York price seemed very real last month, but in the end it turned out to be a near miss. Still, there is plenty for Opec to think about as the group&#39;s energy ministers gather in Vienna.
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While consumers, presidential candidates and the stock and bond markets are focused on oil prices, the oil traders themselves are more concerned about volatility.
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ELEANOR HALL: The high price of oil is already threatening global economic growth, but that price could yet be pushed higher by events in Russia.
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World oil prices are on the rise, as Hurricane Ivan threatens to disrupt oil flow in the Gulf of Mexico.
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The sharp rise in oil prices which recently creeps towards $60 per barrel has put many energy industries and those reliant on energy on the edge for fear of the adverse affects of escalating prices.
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Recent developments in Russia all point in one direction: The Kremlin&#39;s energy sector policy has shifted to more aggressive efforts of direct control.
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Here's a way to benefit from an increase in the global demand for oil.
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No. 1 exporter pledges to hold production levels but is wary of boosting quotas and glutting market. VIENNA  - OPEC is keeping its foot on the production pedal in a bid to drag down oil prices, but
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"Further Turkish military efforts against the PKK rebels keeps the geopolitical pot boiling in that oil flows from Iraq could potentially be disrupted"  LONDON * Oil rose to a one-month high above $96 a barrel yesterday ahead of a US government report expected to show crude inventories in the world's top consumer fell for a sixth straight week. via The Peninsula
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VIENNA: Oilâs record price surge has thrust the Organisation of Petroleum Exporting Countries (Opec) into the political spotlight more than any time since the 1970s.
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As crude oil beat records every day in August, the Organization of Petroleum Exporting Countries (OPEC) tried to persuade markets that it was working hard to get prices down.
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Oil prices push above $70 a barrel amid fears over US-Iran tensions and low US fuel stockpiles.
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Fifteen months ago, key members of the Organization of the Petroleum Exporting Countries said that the steep price of oil, about $70 a barrel, was a concern because it might endanger global economic growth -- and stifle global demand for oil.
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Supplies of crude oil continue to swell in the United States, but don't expect that to translate into lower gas prices any time soon, one expert says.