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As oil prices continue to plummet, the once-dominant international cartel of producers is losing its sway over the global energy markets.
At its meeting on Thursday in Vienna, the Organization of the Petroleum Exporting Countries, the group of 12 oil producing nations, is under pressure to at least announce modest cuts in an effort to shore up the markets. 1,174 more words
Crude prices plunged into a bearish phase this year amid the highest U.S. oil production in more than three decades and signs of slower demand growth. 137 more words
More than 200 commercial flights were canceled by late Tuesday night ahead of the busiest travel day of the year for Americans, as weather forecasters predict that snowstorms and rain are likely to pound the northeast throughout Wednesday and Thursday. 163 more words