Oil fell by more than $1 on Thursday as concerns over weak demand in a softening U.S. economy outweighed an unexpected drop in U.S. crude oil inventories and continued production problems in the wake of Hurricane Gustav. Iran has said the producer group may need to cut oil supplies by as much as 1.5 million barrels per day (bpd).
OPEC reaffirmed its prediction that demand for crude in 2009 will be 1,00,000 million barrels down.
http://www.ibnlive.com/news/oil-prices-drop-to-a-new-low/71530-7.html
This is the biggest three-day loss in oil market in percentage terms since December 2004.
http://www.ibnlive.com/news/crude-prices-fall-below-130/69085-7.html
The Tibetan torch of freedom will reach New Delhi on Thursday.
http://www.ibnlive.com/news/lookaheads-big-news-from-across-india/68607-3.html
OPEC President Chakib Khelil says speculation driving oil to new highs.
http://www.ibnlive.com/news/oil-price-could-touch-170-a-barrel-warns-opec-chief/67860-7.html
The OPEC President insists oil producers see no need to raise supply.
http://www.ibnlive.com/news/opec-prez-blames-oil-price-hike-on-us-subprime-crisis/67745-7.html
Here's the latest on OPEC meet and the deadlock.
http://www.ibnlive.com/news/opec-meet-fails-to-provide-solutions-to-price-hike/67599-7.html
OPEC remained divided on the issue of raising oil production.
http://www.ibnlive.com/news/enough-oil-in-market-to-meet-demands-opec-president/67597-2.html
The differences in the body of oil producers came to the fore on Sunday.
http://www.ibnlive.com/news/opec-saudi-to-boost-oil-output/67589-7.html
Chidambaram addresses energy ministers, urges action.
http://www.ibnlive.com/news/india-warns-the-world-oil-price-may-ruin-all/67577-7.html
Saudi is hosting an International Energy Conference in Jeddah on Sunday.
http://www.ibnlive.com/news/pump-up-oil-production-india-ministers-to-tell-opec/67559-2.html
The kingdom will also work with OPEC to guarantee availability of oil.
http://www.ibnlive.com/news/saudi-will-attempt-to-rein-in-oil-price-surge-minister/66948-2.html
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