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 Chavez Oil - Site based on "Chavez Oil", i.e. the oil situation in Venezuela under Hugo Chavez's government. Information on the oil companies that got nationalized and which didn't and more. CITGO, Exxon Mobil, Hugo Chavez's history...
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Information and current value of oil prices. The different factors influencing the price of crude oil, such as, the war on Iraq, OPEC politics, Venezuela situation and more.
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Oil Prices
References to the petroleum prices are usually either references to the spot price of either WTI/Light Crude as traded
on the New York Mercantile Exchange (NYMEX) or the price of Brent as traded on the Intercontinental Exchange. The price
of a barrel (which is 42 gallons) of oil is highly dependent on both its grade and location. The vast majority of oil
will not be traded on an exchange but on an over-the-counter basis, typically with reference to a marker crude oil grade
that is typically quoted via pricing agencies.
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Crude oil price
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Oil demand is highly dependent on global macroeconomic conditions, so this is also an important determinant of price.
Some economists claim that high oil prices have a large negative impact on the global growth. This means that the
relationship between the oil price and global growth is not particularly stable although a high oil price is often
thought of as being a late cycle phenomenon. Wikipedia
The Organization of Petroleum Exporting Countries was formed to maintain the price of oil at a level most beneficial to
its membership considered as a whole, and is considered to be a cartel by most observers.
Check Venezuela's Energy and Oil Ministry website to check
an archive of Venezuela oil prices, until last week.
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The most relevant links we could find, placed here free |
 WTRG Economics
- History and analysis, charts of crude oil prices. www.wtrg.com
Sign on San Diego
- A news article about the current crude oil price. www.signonsandiego.com
Wikipedia
- Additional information about crude oil, history of prices, charts and factors that determine the value of the oil barrel. en.wikipedia.org
Reuters
- News article related to crude oil prices and OPEC. africa.reuters.com
Oil Price
- Forecast on the price of crude oil. Also articles and charts related to the oil business. www.oil-price.net
Oil prices sometimes are impacted by political and social situations around the world, and in some cases, natural disasters.
Hurricane Katrina, the war on Iraq, among with the political uncertainty in Venezuela (both countries members of OPEC)
has been having a high impact on the oil prices. As a result of this, fuel prices on countries that import
crude oil (like USA) has been increasing dramatically.
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Gas price
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Latest on Oil Prices:
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