oil price

On Wednesday afternoon the Federal Reserve announced its actions following the organization's two day meeting.  The Fed announced it would inject $1.15 billion into the financial system through buying longer dated Treasury bills, more mortgages and more Fannie Mae paper.  On the announcement, the U.S.

Nobuo Tanaka, executive director of the International Energy Agency (IEA), was interviewed by the Financial Times (FT) yesterday and said that oil importing countries were receiving a $1 trillion tax break by lower oil prices.  He said that the IEA's analysis showed that if oil prices stay at around $40 a barrel for the balance of this year, the presumed $1 trillion in savings for oil importing countries would help contribute to their economic recovery, which is good in the long term for oil exporting countries. =>Continue Reading