Oil, Energy | featured news

OPEC lowered its five-year forecast for oil-field spending by about a third as the recession and increased energy efficiency led to a steep cut in demand estimates.

Reacting to recent swings in oil prices, federal regulators said on Tuesday that they were considering limits on “speculative” traders in markets for oil and other energy products.

The U.S. price of gasoline jumped 19 cents a gallon during the past two weeks, but remains well below prices from a year ago.

Students have begun making bio diesel fuel by converting used cooking oil from the dining hall.