Washington  - The United States on Wednesday opposed a decision by the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production by
520,000 barrels per day.

"We certainly disagree with it. We would like to see more oil on the market, not less," said White House spokeswoman Dana Perino.

OPEC cited falling oil prices and lower demand earlier Wednesday in its announcement that it would cut output. The price of crude oil has fallen by some 30 per cent since a July record, but remains at about 100 dollars per barrel.

Vienna - The Organization of the Petroleum Exporting Countr

Stock market analysts have maintained ‘buy’ rating on Suzlon Energy stock with an intraday target of Rs 239.

According to them, interested traders can purchase the stock above Rs 235 with a strict stop loss of Rs 232. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 242.
 

Sydney - Australia will not sell uranium to India despite voting with other members of the Nuclear Suppliers Group (NSG) to end a 34-year embargo on nuclear trade with Delhi, officials said Monday.

Prime Minister Kevin Rudd took office in November pledged to withhold uranium sales so long as India remains outside the Nuclear Non-Proliferation Treaty (NPT). John Howard, his conservative predecessor, held that India's refusal to sign the NPT should not debar it from importing uranium from Australia, custodian of 40 per cent of the world's known reserves.

An interest in acquiring more oil fields in Colombia has been shown by the state-run Oil and Gas Corporation and Oil India Ltd, when GAIL, expressed the idea to set a petrochemical plant in South America, a nation which is rich in oil.

The Colombian Minister of Energy and Mines, Hernan Martinez, who had come for a visit and signed an agreement with Petroleum Minister Murli Doera, agreeing to give cooperation in energy sector, and it was during this meeting that the two companies communicated their interest to acquire oil-fields in Colombia.