Indonesia Plans To Pull Out OPEC Membership

Indonesian government is reluctantly planning to quit its membership from OPEC. Is it because of the not-so-good oil markets today or is it because OPEC is not anymore doing its part to maintain the oil price?


As domestic consumption rises and international prices are kept at high level, Indonesia has no choice but to re-discover its abundant oil and gas riches.

To quit OPEC may be a wake-up call for Indonesia to improve investment, upgrade poor infrastructure and reform its weak legal system and red tape to absorb more foreign investors.

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Oil Price Fall Pushes Stocks To Jump

After a shocking $135 per barrel oil price, oil price is now at less than $129 per barrel. A strong fall of oil price has pushed the ailing stock markets to recover, as it rallied today. The falling oil price and strong dollar boost the investors confidence to put shares on stocks as it recorded a strong gains Tuesday.

After a two-month rally off the March 17th lows and a nearly two-week selloff, stocks are basically pausing, he said.

"Investors are taking a cautious approach and are keeping an eye on any news about growth in the second quarter," King said. "We know growth was slow, but we don't know how slow. So stocks are going to react to any news on that, and on inflation, over the next few weeks."

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Oil Industry: At Global Crisis

Oil peak will surely damage businesses and bring out detriments to all who depends on it. Oil price is a real shocker!


The historical upward trend in oil price has inflicted pains, headaches and economic worries on every consumers. After some decades have passed, since the conception of the oil industry in Middle East, cheap oil is a history. But what makes it unbearable today? Last year's oil price was only at $65 per barrel, today, it is more than a double, making it a new record of $165 per barrel and also expected to escalate at $200.


Pessimists believe that production has passed its peak. Optimists say it may be 20 years or so away – which would give us some time to prepare – but are now muted. Last week the hitherto optimistic International Energy Agency admitted that it may have overestimated future capacity. Chris Skrebowski, editor of 'Petroleum Review' and once an optimist himself, believes that the world is now in "the foothills of peak oil". Prices may ease a bit over the next few years, but then the real crunch will come. The price then? "Pick a number!"

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Oil Price Scaled At $130/Barrel

What could you expect from the trend in the global oil market? Everybody is expecting nothing aside from the continued increasing oil prices, despite effort to minimize its price. But those efforts seemed to be useless, as the oil price has surged to its peak.

The U.S. House of Representatives approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies, but the White House threatened to veto the measure because it could spur "retaliatory action against American interests in those countries".

Energy analysts say an OPEC decision to raise output could help ease the price rally, which they say has been fueled largely by resilient world energy demand even as the United States economy slows.

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What's the reasons behind high oil price

As the oil price trend continue to affect the global market, everyone is trying to find out some means on how to counter and at least try for a new solution for the alarming high oil price. But, before doing so, one could probably check out what's the reason behind the increasing oil price.


On May 13, the price of a barrel of oil briefly hit a record of $126.98 on the New York Mercantile Exchange The reason was ostensibly that Iran was cutting oil production. But there is no gas shortage. So why are prices still going up?

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How Oil Price Affects Us

What's new with the energy markets? everybody is expecting a positive outlook from this market but it seemed that the expectation remained negative. what more could this oil price give to us?

Evidently, due to the unstable energy markets, some stikes were being posed by some oil workers. They too, are affected with the current trend in oil markets. This is not only happened in Britain, where major oil refinery shut down, stikes is almost everywhere, where oil is one of the most serious problems.


We cannot deny the fact that oil has a pivotal role in our life. Oil alone is our life. This makes us mad when our government prefers to privatize oil energy sector, especially when times that the government itself is not already counting money from it. Privatization for them is the answer, so that, more private entities could invest in their countries. But it would only create fears and troubles, because protesters would not allow it.


However, we can still make a difference out of it. If we would only unite for the common good. Focusing on alternative energy can be one of the solutions. Though, it requires funds, new researches and studies, still, in a futuristic view, nations that would try alternative energy could prossibly be out of the problems brought by the current oil situations.

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Oil Price Update: Oil closes to $119 a barrel

Oil prices are surging again to near 119 a barrel. today, oil price is at $118 above and expected to increase any time today due to the many causes behind its increase.....



Oil producers in Rome for the International Energy Forum said they can do nothing to halt oil's rally and the world might have to live with even higher prices if it wants supplies for the future.

U.S. President George W. Bush on Tuesday said he was concerned about record-high crude oil and gasoline prices, and said the United States needs to tap an Alaskan wildlife refuge to boost supply.

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