A senior official of the United Arab Emirates (UAE) said on Sunday some Arab countries which are not members of Organization of Arab Petroleum Exporting Countries (OAPEC) triggered "the deterioration in oil prices due to irresponsible oil production," the state-run news agency WAM reported.
Turkey, an energy importing country, has been taking advantage of the falling oil prices to shrink its high current account deficit, experts agreed here on Thursday.
Owing to the fall in global oil prices, Nigeria, Africa's largest economy, has begun to slow down, causing a review and austerity measure regime to be envisaged by government, an expert said in an exclusive interview with Xinhua, as the West African country fights hard against recession.
The Supreme Court of the United States on Monday rejected BP's request for a review of a multibillion-dollar settlement over the infamous 2010 Gulf of Mexico oil spill, ending the British oil giant's legal challenge to authorities handling the case.
Oil prices which hit the lowest level for four years at global market will not fall downer, an Algerian energy expert said Sunday in Algiers.
Senior Russian officials urged the government Monday to promptly draft plans to downsize the nation's dependence on imports and high oil prices in order to avert possible recession.
The ministers of the Organization of Petroleum Exporting Countries (OPEC) decided here on Thursday to maintain its output level despite crude oil price fell to a four-year low level, a statement released after the OPEC conference said.
The ministers of the Organization of Petroleum Exporting Countries (OPEC) decided here on Thursday to maintain its output level despite crude oil price fell to a four-year low level, a statement released after the OPEC conference said.
The president of Venezuela's state oil company PDVSA, Eulogio Del Pino, Wednesday said the industry is facing "hard times" in the wake of falling oil prices.
Russia attempts to stabilize global oil market by not exceeding its annual production of 525 million tons, Energy Minister Alexander Novak said Monday.
China's demand growth for oil will slow down around 2030, although it will overtake the United States as the largest oil consumer by that time, said International Energy Agency (IEA) Wednesday.
U.S. companies dedicated to oil and gas communications solutions are eager to expand into the fast-growing Chinese oil industry, a company executive told Xinhua Thursday at the sidelines of a conference program in Houston.
Stock indices from Kuwait to Oman retreated on Wednesday following a gloomy outlook for the Eurozone and new political stalemate in the United States following Congressional mid-term elections.
U.S. crude price stabilized Monday after the market rebounded briefly late last week.
Japanese household goods maker Kao Corp. may soon be using algae to produce cleansing agents for its products, specifically shampoo, local media reported on Sunday.
Crude price rebound Thursday after the market dropped significantly this week.
The Chinese mainland has suspended importing cooking oil products made by a Taiwan company involved in a food safety scandal.
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