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Showing 1 - 6 of 6 results for "OPEC cartel"

Global stocks plunge as COVID-19 fear accelerates, oil crashes

ALLY SELBY  |  TUESDAY, 10 MAR 2020
... halted for the rest of the day. Oil markets are crashing at their worst rate since the Gulf War of 1991, after the OPEC cartel failed to agree on supply cuts aimed to address a slump in global demand caused by the COVID-19 outbreak. Russia refused to ...

Oil price shock, nice

BENJAMIN ONG  |  TUESDAY, 13 JAN 2015
... the early 70's and 80's when oil prices soared. Ahh yes, those were the days of global tension and hatred for the OPEC cartel and their oil embargo. The jump in crude prices from below US$5.00 a barrel to US$15.50 in 1973 induced a US recession, a stock ...

Oil slide, CEO pay and that "income recession"

BENJAMIN ONG  |  THURSDAY, 11 DEC 2014
... the allied forces. Yes Virginia, it's turning out to be a fight between the central banks - lifting demand - and the OPEC cartel drowning their competition with supply. And this is good for Australia. Cheap oil is good. Us, blokes and sheilas, will have ...

Market Wrap AM

AAP  |  THURSDAY, 11 DEC 2014
... Beaten-down petroleum-linked stocks had another bad day as US oil prices sank to a fresh-five year low on a forecast by the OPEC cartel for lower demand for its oil in 2015. Dow members ExxonMobil and Chevron skidded nearly 3.0 per cent and 2.0 per cent ...

Sliding oil price would stop the slide in the oil price

BENJAMIN ONG  |  FRIDAY, 28 NOV 2014
The cartel that controls 40% of oil production - the Organisation of Petroleum Exporting Countries (OPEC) - met and concluded their 166th meeting in Vienna, Australia last night. The conclusion: "...in the interest of restoring market equilibrium, the ...

Oil hits record high as Yukos told to stop sales

AAP  |  THURSDAY, 29 JUL 2004
... international supplies. The news intensified concerns over the lack of spare capacity in the international oil system, as the OPEC cartel pumps at its highest level for a quarter of a century to meet strong global demand growth. US light crude settled ...
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