Monday, January 5, 2009

Crude Oil Industry Headline News


"Crude Oil Up But Seesaws On Gaza, Russia, Dollar"
U.S. crude oil futures edged upbut trading seesawed on Monday as a stronger dollar brought prices down from early highs hit as fighting in Gaza intensified....Complete Story

"Venezuela International Reserves Hit Record $42.2B in 2008"
Venezuela's international reserves were $42.2 billion at the end of 2008, the highest level on record because of lofty oil prices for most of the year....Complete Story

"Oil Curve Steeper Than '99 Shows Possible Gain In '09"
The steepest plunge in crude prices on record may be setting up oil investors for a rally this year, if history is any guide. The so-called forward curve of futures contracts traded on the New York....Complete Story

"Iran Says OPEC to Hold Emergency Meeting in February"
Iran's representative to OPEC said Monday that the organization would hold an emergency meeting in Kuwait in February. As part of OPEC's new plan, Iran will cut its crude oil output by 545,000 b/d in January....Complete Story

"China Filling Oil Reserves"
As the U.S. seeks to stockpile oil, China has been doing the same, observers say, and is expected to quicken the pace -- a development that already may be helping to boost oil prices....Complete Story

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