Crude gushes through $42 barrier

Article Abstract:

Prices of crude oil soared past US $42 a barrel, its highest recorded level, on 1 June 2004, the first day of trading since militants attacked oil facilities in Saudi Arabia. Analysts indicates that the Organization of Petroleum Exporting Countries (OPEC) may need to consider the suspension of production quotas to counter the fear factor from the terror attacks on the most influential OPEC member, who is also the only one with significant spare production capacity.

Canada, Saudi Arabia, Management dynamics, Police Protection, Terrorist Control, Security Mgmt-Kidnapping & Terrorism, Prices and rates, Influence, Company business management, Terrorism, Company pricing policy

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OPEC unlikely to cut output

Article Abstract:

The Organization of Petroleum Exporting Countries (OPEC) is no longer planning to reduce oil production at its meeting during the week of June 8, 2003. The decision could bring stability to world oil markets.

Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Crude Petroleum & Natural Gas, Planning, Natural gas, Gas industry, Company business planning

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OPEC holds the line on production quotas

Article Abstract:

The Organization of Petroleum Exporting Countries (OPEC) voted to not increase oil production, which would have moderated prices. OPEC claimed the current price of $30-a-barrel is not exorbitant.

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