Predictions of easing gasoline prices are also being driven by views that there could be potential oil supply overhang concerns coming up in the absence of a strong and immediate message by the successor of Saudi King Abdullah, reinforcing the adherence to self-imposed production limits by OPEC (Organization of the Petroleum Exporting Countries) members.
FORBES: Spiking Summer Gas Prices to Ding Home Sales, Consumer Confidence
In the midst of financial and political turmoil throughout Europe, the Organization of Petroleum Exporting Countries (OPEC) met last Thursday in Vienna, Austria, to discuss the future of oil production.
They include representatives of members of The Organization of the Petroleum Exporting Countries (OPEC), who argue they should receive compensation because of the impact reduced oil consumption would have on their economies.
The Organization of Petroleum Exporting Countries (Opec) meets on Saturday to discuss its official production quotas, although analysts believe output will remain unchanged.
In November 2008, President Lula invited Ahmadinejad to visit Brazil, and Iran invited Brazil to join the Organization of Petroleum Exporting Countries (OPEC).
CENTERFORSECURITYPOLICY: The growing concern of Brazil & Iran
In 1960, representatives of oil-producing countries finished a meeting in Baghdad which led to the formation of the Organization of Petroleum Exporting Countries (OPEC).
According to Fabiani, Cheney said the Organization of Petroleum Exporting Countries (OPEC) had "gotten its act together" to put curbs on production levels and stick to those limits.
The Organization of Petroleum Exporting Countries (OPEC) has slashed its global oil demand forecast for 2013 by about 20, 000 barrels a day to 89.57 million barrels a day.
The Organization of Petroleum Exporting Countries (OPEC) also warned that it could not replace the shortfall in crude if Iran was attacked and its supply taken off the market.
This display of aggression was eerily similar to events that transpired during the 1973 Yom Kippur War, when the Organization of Petroleum Exporting Countries (OPEC) strategically cut off oil to nations supporting Israel.
The outlook for the Organization of Petroleum Exporting Country's meeting on Thursday, in which OPEC is expected to report unchanged output and increased global demand for oil, sent oil's price down in pre-market trading.
应用推荐