OPEC has no plans to support world oil prices.This means that "black gold" may  be cheaper to 25 dollars per barrel soon , according to the government of Iran. In this regard, the Minister of petroleum of the Islamic State BGAN Zangana tries to prevent a sharp decline in oil prices through

OPEC Secretary-General Abdullah al-Badri addresses a news conference after a meeting of OPEC oil ministers at OPEC's headquarters in Vienna November 27,   Oil producers group OPEC can ride out a slump in oil prices and keep output unchanged, its head said on Sunday, arguing market weakness did not

OPEC just fired a shot at the U.S. shale industry. Despite tumbling prices -- the lowest since 2010 -- the cartel surprised the energy industry by deciding to keep pumping oil at current levels. One motivation is to squeeze higher-cost producers in North America, including the booming U.S. shale

Low gas prices have beaten up energy stocks but the sector is a key one to watch. While Americans are chomping down on turkey and pie this week, everyone involved in the energy world will be closely watching the Thanksgiving Day meeting of the OPEC in Vienna, Austria. Oil prices have tumbled