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Venezuela sees no ruling on Exxon in 2012
Venezuela's oil minister said on Saturday he does not expect a ruling in World Bank arbitration with Exxon Mobil this year, after another tribunal awarded the US major $908 million last week. Both cases relate to the nationalisation by President Hugo Chavez of the Cerro Negro heavy oil project in the South American Organization Of Petroleum Exporting Countries (Opec) member, following years of legal

Reality check

Oil prices could be set for a reality check. The four per cent drop in the cost of a barrel of Brent crude yesterday, was part of a broader end of year sell-off. But, it could also be the start of a

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Summary Box: OPEC keeps current production levels
: OPEC agreed to keep crude output at a daily 30 million barrels Wednesday but left it up to its 12 members to voluntarily honor that ceiling without overshooting it.

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OPEC likely to keep output at present levels

OPEC ministers are expected to agree on how much oil to bring to market when they meet Wednesday, in sharp contrast to their last meeting in June which broke up in acrimony.

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Oil falls on Fed disappointment, OPEC awaited

Oil fell on Wednesday, pressured by anxiety about the global economy after the Federal Reserve warned that turmoil in Europe threatened the U.S. economy but failed to take any new steps to stimulate

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Opec likely to cut output at December meeting

The Organization of Petroleum Exporting Countries (Opec) would likely decide to cut oil output at its December 14 meeting in Vienna, as global oil demand was expected to decline next year,

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