Surge in Oil Prices--English--People's Daily Online

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Surge in Oil Prices

Fuel prices raise PPI to 12-yr high

Rising energy prices pushed up producer price index (PPI) in July to 10 percent year-on-year, the highest since 1996 when data were first recorded.

Crude oil falls on strong dollar, weak demand

Oil prices continued to fall Monday as a strengthening dollar and signs of dropping demand offset the supply concern caused by Russia-Georgia tension.

China

• Cheaper oil could lead to commodity price reform
• Fuel prices raise PPI to 12-yr high
• China's crude oil import volume up 11% in first half
• China's aviation oil provider raises oil price, airlines feel pressure

Americas

• Crude prices dip on weakened demand in U.S.
• Crude prices surge over 20% on weak dollar, short squeeze
• Crude oil surges $6 as stocks plunge
• Crude oil plunges below 96 U.S. dollars
• Oil prices jump on Gulf tropical storm threat

Europe

• ss
• OPEC weekly prices further drop
• OPEC weekly prices drop below 100
• OPEC to cut output by 520,000 bpd

Asia-Pacific

• Indonesia to increase oil production next year
• APEC seeks ways to reduce price crisis' influence on small, medium businesses
• Gasoline price hits record high in Japan
• S Korea aims to be Northeast Asian "oil hub"

International Cooperation

• Petroleum congress hopes for safer oil supply
• Angola to raise oil output by 100,000 bpd this year
• Germany, U.S. hope for Doha breakthrough to ease food, oil prices
• OPEC rejects call to set price band for oil

Opinions & Speeches

• ADB: drop in oil prices to be short lived
• Fitch: oil price to affect some Asian downstream companies
• OPEC president says not to raise oil output
• Iranian minister: OPEC oil output change unnecessary

Photos