oil production

Key issues behind Russia's effort to increase oil production:

Home to abundant oil reserves, Russia rarely worried about where the next barrel would come from — until now.

With oil prices off nearly 30 percent from their highs of almost $150 a barrel, OPEC oil ministers are considering what was unthinkable just a few weeks ago — cutting back output to prop up the price of crude.

Big oil has hi-jacked the American consumer with high gas prices and record profits. Should our government just send out the military, take over ALL gas and oil production in the U.S., then redistribute the commodity at a reasonable price... where it should be?

Traders again shrugged off a pledge by Saudi Arabia to increase its oil production if needed and oil prices rose Monday, with the focus on disruptions to Nigerian supply and heightened Middle East tensions.

Saudi Arabia said Sunday it would produce more crude oil this year if the market needs it.

The kingdom announced a 300,000 barrel per day production increase in May and said before the start of the meeting in Jeddah that it would add another 200,000 barrels per day in July, raising total daily output to 9.7 million barrels.

Saudi Arabia's oil minister says the kingdom is willing to produce more oil if customers need it, but he cited no specific production increase.

The first recently unveiled global satellite survey of gas flaring — a process commonly used to dispose of natural gas freed during oil production — has shown what many have now suspected for years: it is an extremely wasteful, costly problem that has helped contribute to glo …