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Oil falls as inventory report soothes

Crude below $94 a barrel as crude, distillate supplies fall less than expected and gasoline swells.

November 28 2007: 10:41 AM EST

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Chevron CEO, David O'Reilly sits down with Fortune's Geoffrey Colvin to discuss why oil prices have skyrocketed over the last six months. Play video

NEW YORK (CNNMoney.com) -- Oil prices fell Wednesday after the government said supplies of crude oil and distillates fell less than expected and reported a larger than expected increase in gasoline supplies.
http://money.cnn.com/2007/11/28/markets/oil_eia/index.htm?postversion=2007112810
 
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funny about my dad has 5 oil rights and they said they did not pump a drop last month yeah right things that make you go hmmm:notrust:
 
Oil spikes $4 after pipeline explosion

Crude price surges amid uncertainty over how pipeline shutdown in Minnesota will affect supplies.

BANGKOK, Thailand (AP) -- Oil prices jumped more than $4 Thursday after a fire erupted late Wednesday at a pipeline carrying crude oil from Canada to the U.S. Midwest, rebounding from the previous day's plunge.

The fire, in northern Minnesota, killed two workers who were repairing it, authorities said. It wasn't immediately clear how the fire and the shutdown of five pipelines would affect supplies.
http://money.cnn.com/2007/11/29/markets/oil.ap/index.htm?postversion=2007112906
 
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Oil dips below $90 a barrel

Prices fall ahead of OPEC meeting, where many expect the oil cartel to increase supplies.

November 30 2007: 6:59 AM EST


Fortune's Geoffrey Colvin and Chevron CEO David O'Reilly discuss the likelihood of a global move towards renewable energy. Play video


BANGKOK, Thailand (AP) -- Oil prices fell Friday on expectations that OPEC will increase output next week and on fading concerns of a supply disruption from a U.S. pipeline fire.
Light, sweet crude for January delivery fell $1.55 to $89.46 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. http://money.cnn.com/2007/11/30/markets/oil.ap/index.htm?postversion=2007113006
 
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I think Old "Mouth" Hugo is lucky the USA is busy with other things! WHY DOSEN"T HE JUST SHUT UP?

Chavez threatens to cut oil if U.S. questions vote

CARACAS, Venezuela (CNN) -- President Hugo Chavez on Friday wrapped up his campaign to push through broad constitutional changes with a broadside attack against adversaries at home and abroad -- including a threat to cut off oil exports to the United States.
Supporters of President Hugo Chavez rally Friday in Caracas, Venezuela.

http://www.cnn.com/2007/WORLD/americas/11/30/venezuela.protest/index.html
 
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Be nice OPEC!!:D

Oil off ahead of OPEC meeting

Uncertainty grows whether cartel will boost production after last week's nose dive.


Chevron CEO, David O'Reilly sits down with Fortune's Geoffrey Colvin to discuss why oil prices have skyrocketed over the last six months. Play video

NEW YORK (AP) -- Oil prices fell about $1 a barrel Monday in a volatile market on speculation that OPEC would boost output at its meeting this week despite last week's sharp price drop.
http://money.cnn.com/2007/12/03/markets/oil.ap/index.htm?postversion=2007120307
 
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Our Buddy!:mad:

Venezuela to oppose oil output hike

Venezuelan oil minister says market is well supplied with oil, will fight oil production increase at OPEC meeting.


CNN's Richard Roth reports on the sentencing of Texas oil man Oscar Wyatt in the Iraq oil-for-food scam. Play video

CARACAS, Venezuela (AP) -- Venezuela will oppose any increase in crude oil output quotas during the upcoming Organization of Petroleum Exporting Countries meeting in the United Arab Emirates, Venezuela's oil minister said Sunday.
http://money.cnn.com/2007/12/03/new...uela.opec.ap/index.htm?postversion=2007120310
 
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The Saudis are behind us again!!:D

Saudis may bigfoot OPEC and hike output

Analysts say the cartel may confound expectations and not boost production when it meets Wednesday, but more oil may flow to world markets anyway.

By Steve Hargreaves, CNNMoney.com staff writer
December 4 2007: 3:13 PM EST


middle_east_oil2.03.jpg
OPEC may formally resist adding production, although Saudi Arabia may put more supply on the world market on its own.

NEW YORK (CNNMoney.com) -- OPEC may not officially boost output at the conclusion of its meeting Wednesday in Abu Dhabi, but that doesn't mean the world won't get its oil.
http://money.cnn.com/2007/12/04/news/international/opec/index.htm?postversion=2007120415
 
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Oil prices soar as OPEC stands pat on output

Crude back near $90 a barrel after oil cartel dashes hopes for increased production, saying market fundamentals are unchanged and supply is sufficient.

December 5 2007: 7:47 AM EST

NEW YORK (CNNMoney.com) -- OPEC dashed hopes that it would step up production at its meeting Wednesday, news that sent oil prices shooting back towards the $90 a barrel mark in early trading.
http://money.cnn.com/2007/12/05/markets/oil/index.htm?postversion=2007120507
 
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Oil up further after big crude draw:mad:

U.S. supplies sink by 8 million barrels, combine with no OPEC increase to send crude closer to $90 a barrel.

NEW YORK (CNNMoney.com) -- Oil prices were up more than $1 a barrel Wednesday after the government reported a big drop in crude supplies and OPEC left production levels unchanged.
U.S. light crude for January delivery rose $1.09 to $89.41 a barrel on the New York Mercantile Exchange. Oil had traded up $1 just prior to the report's release.
http://money.cnn.com/2007/12/05/markets/oil_eia/index.htm?postversion=2007120510
 
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Does anyone really know how much Oil and Gas we have on hand? NOT!:)

Oil drops to six-week low

Traders shrug off OPEC decision to hold production steady; report shows jump in U.S. supplies.

SINGAPORE (AP) -- Oil prices dropped below $87 a barrel Thursday to their lowest levels in six weeks after a report showed an increase in U.S. supplies of gasoline and distillates, as well as of crude at a key Midwestern terminal.
http://money.cnn.com/2007/12/06/markets/oil.ap/index.htm?postversion=2007120606
 
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NOT!!:nuts:

$3 gas is here to stay - analysts

Prices at the pump have dipped recently as the busy driving season came to a close. But analysts predict higher prices next year.

By Ben Rooney, CNNMoney.com staff writer
December 6 2007: 11:30 AM EST

NEW YORK (CNNMoney.com) -- You better get used to $3 gas.
While the amount of money that Americans shell out at the pump has eased in recent weeks, the average price of a gallon of gasoline has hovered around the $3 threshold.
http://money.cnn.com/2007/12/05/news/economy/gas_opec/index.htm?postversion=2007120611
 
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