Metal Minings News

Oil and natural-gas producer Exco Resources Inc.’s board approved a $123 million increase in its 2008 capital budget, to $923 million. The increase includes …

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Exco Boosts Its Capital Budget

Saudi Arabian Oil Co., or Saudi Aramco, and ConocoPhillips approved continued funding for development of a refinery in Yanbu, Saudi Arabia, on the Red Sea. The project will create a 400000 barrel-per-day refinery to process Arabian …

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Saudis and ConocoPhillips Press on With Refinery Deal

On his second visit to Saudi Arabia this year, Saudi leaders told President Bush they see no reason to increase oil production until customers demand it. …

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Saudis Keep Firm Hold on Oil Production

Goldman Sachs commodities analysts raised their forecast for the average price of West Texas crude in the second half of 2008 by $34 to $141 a barrel. “The current oil market is experiencing a structural repricing much like it did in …

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Goldman Raises Oil Price Forecast

Oil rose again, as traders kept buying on the belief that prices will just keep setting new records. Light, sweet crude for June delivery gained $2.17 to settle at $126.29 on the New York Mercantile Exchange. Crude shot up to $127.82 a …

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Oil Crude Continues to Climb