OPEC | History and definition of the OPEC

OPEC is an intergovernmental organization of twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nig...

Oil sands | Undestanding and definition of Oil Sands | State Oil Sands produces the largest

Bituminous sands, colloquially known as oil sands or tar sands, are a type of unconventional petroleum deposit. The sands contain naturally ...

Crude oil | Understanding and definition of crude oil

Three conditions must be present for oil reservoirs to form: a source rock rich in hydrocarbon material buried deep enough for subterranean ...

Petroleum | History and Petroleum definitions | Purpose and function of Petroleum

Petroleum (L. petroleum, from Greek: petra (rock) + Latin: oleum (oil)) or crude oil is a naturally occurring, flammable liquid consisting o...

Oil price jumps as Goldman Sachs raises forecasts

The US investment bank raised its year-end forecast for Brent to $120 per barrel from $105, and its 2012 forecast to $140 from $120, saying ...

Oil rebounds in Asia on higher Chinese demand

SINGAPORE - Oil rebounded in Asian trade Tuesday on surging crude demand from China, the world's second-largest economy, analysts said. ...