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Broadcast: Jan 12, 2003 The Organization of Petroleum Exporting Countries has agreed to increase production to 24.5 million barrels per day to cover a shortfall of oil from Venezuela, where a six week
By Greg Flakus Houston 17 October 2007 Energy experts from around the world have gathered in Houston for a three-day conference on the issue of peak oil, which involves predictions that world oil production will soon reach its peak and then go into d
By Mil Arcega Washington 25 May 2007 Technology and high gasoline prices are helping to coax hard-to-extract oil from California's oil fields. Production at some of the state's older oil fields is expected to dry up in about 25 years, but Chevron say
Over the last decade, oil production has slipped in Venezuela, even as estimates of the country's petroleum reserves have grown. Venezuela's reserves are now thought to be the world's largest, giving the country an enormous revenue potential for deca
U.S. President Barack Obama is announcing a new initiative to increase domestic oil production, while moving toward lowering the country's dependence on imported oil. In his weekly address Saturday, Obama said his administration plans to extend drill
Saudi Arabia is signaling that it is going to boost its supply of oil on its own after failing to convince other oil producers to jointly agree to more production. Several news agencies reported Saturday that the Saudis could increase their oil produ