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OPEC will cut its oil output by 1.5 million barrels a day starting in November, with chances of more cuts to come. But from Paris, Lisa Bryant reports the announcement was met by a further drop by financial markets. OPEC hopes that by cutting output

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OPEC Agrees to Reduce Oil Output Kerry Sheridan Oil prices edged higher Tuesday after ministers from the Organization of Petroleum Exporting Countries (OPEC) agreed to reduce output. OPEC ministers ha

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China's iron ore manufacturers say they're struggling to keep their businesses afloat because of high costs and taxes while production is on the rise for the sector's global giants. Brazil's Vale SA is the world's largest iron ore producer and it say

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An expert at the International Energy Agency says it may be many months before Libya's damaged oil industry can resume full production. The head of IEA's Oil Industry and Markets Division, David Fyfe, said Thursday there are many logistical, operatio

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By Lisa Bryant Paris 01 February 2008 OPEC's 13 members, meeting in Vienna Friday, rejected calls by the United States to increase oil output. The oil cartel said supplies meet current demands. Lisa Bryant has more from Paris. Following talks in Vien

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BEIJING, Dec. 9 (Xinhua) -- China's industrial production growth continued to accelerate in November, indicating that the nation's economy is rebounding after seeing its lowest expansion pace in more than three years. China's value-added industrial o

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Between 1970 and 1980, energy consumption by United States industry peaked and then declined, so that by 1980 total industrial use of energy was below the 1970 level even though total industrial output had grown substantially in the same period. Indu