For many consumers, the only silver lining on the global financial crisis has been the falling oil price it has precipitated. But OPEC is determined to put an end to the relief at the gas pump. Concerned to protect their countries’ financial health, oil ministers from the 13 members of the cartel of oil-producing countries meet in Vienna on Friday with only one item on their agenda cutting their oil output in order to drive up world prices.
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Nigerian militant group attacks major oil pipelines
A militant group operating in the oil-rich Niger Delta region of Nigeria said Monday that it had destroyed several major oil pipelines in response to a military offensive. The Movement for the Emancipation of the Niger Delta (MEND) said it had “put out of operation” a Chevron storage facility by destroying several pipelines that fed into it