Monthly Archives: December 2008

Crude Oil Prices Sliding Despite Production Cuts

By dvdmaxwell | Published: December 19, 2008
Oil prices slid yesterday to a four-and-a-half-year low as worries about a global economic slump overshadowed recent attempts by oil-producing nations to prop up prices with steep production cuts. Original post by Annys Shin
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Stocks Plunge as Oil Hits 4-Year Low

By | Published: December 18, 2008
Stocks tumbled yesterday on signs of more economic weakness, while crude oil slid to a four-year low, reaching $36.22 a barrel. Read the original post by Renae Merle
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OPEC Agrees to Slash Output, but Oil Prices Slide Anyway

By | Published: December 17, 2008
The Organization of the Petroleum Exporting Countries yesterday agreed to cut production by 2.2 million barrels a day, slightly more than expected, and called on oil producers outside the group to join in output cuts in a bid to halt the five-month slide in world oil prices. Read the original post by Steven Mufson
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OPEC Plans Drastic Cut In Oil Production

By | Published: December 15, 2008
Facing its biggest test in a decade, the Organization of the Petroleum Exporting Countries is planning to make a major cut in oil output at a meeting in Oran, Algeria, tomorrow in an effort to stop the slide in oil prices, which have dropped by two-thirds since July. Read the original post by Steven Mufson
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Iran Confronts an ‘Economic Evolution’: Ahmadinejad’s Plan to Curb Government Subsidies Threatens to Alienate Recipients

By | Published: December 3, 2008
TEHRAN, Dec. 3 — Gasoline? It’s 36 cents a gallon. Laundry detergent? Fifty cents for a standard-size box. Milk? About 20 cents a quart. These prices are so low because Iran’s government spends half its national budget to subsidize many of life’s necessities. Not for long. Read the original post by Thomas Erdbrink
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