Retail gasoline prices in Texas remained steady from Sunday to Monday, increasing just less than 1/2 a penny from $3.522 to $3526. Nationally gas prices remained at $3.67 a gallon. There was no increase nationally from Sunday to Monday. Meanwhile, on international commodities markets, the price of light sweet crude oil, which is refined into [...]

A top government official shrugged off concerns about Russia’s stagnating oil output, saying several new fields are expected to come on stream by the end of the year.
Deputy Prime Minister Igor Sechin — chairman of state-owned oil major Rosneft — told a briefing that he was “not worried” about the decline in Russia’s oil output [...]

Saudi Arabia is reportedly considering raising its crude oil output to about 10 million barrels a day. The Middle East Economic Survey, a regional energy and finance newsletter, says that would mean increasing current output by about half a million barrels a day.
Although the Saudis have repeatedly insisted their massive oil reserves are not [...]

The Organization of Petroleum Exporting Countries boosted crude-oil output in May, according to a survey by Dow Jones Newswires.
The survey estimates daily production by the group’s 13 members in May rose 432,000 barrels a day, from the previous month to 32.39 million barrels a day.
May’s production increase came mostly from OPEC’s top producer, Saudi Arabia, [...]

Mexico’s state-run oil company says output fell 9 percent to 2.87 million barrels a day in the first four months of the year, as production at its biggest oil field sagged.
Petroleos Mexicanos (Pemex) said output from its main Cantarell oil field dropped by 416,000 barrels a day, or 26 percent, from the same period last [...]

Nigerian oil workers ended a strike that cut the country’s oil output over the last several days. The head of the union at an Exxon Mobil Corp. unit said members would return to work after negotiators reached an agreement with management about pensions.
Exxon Mobil said in a statement that it was restarting production.
Nigeria produces about [...]

Labor actions that cut crude supplies from the North Sea and Nigeria helped keep oil prices up around $120 a barrel. BP PLC on Sunday shut down the Forties Pipeline System that carries more than 700,000 barrels of oil a day to the U.K. because of a 48-hour walkout by employees in a pension dispute [...]

The government is beginning to show concern that the country could achieve its crude oil production target this year amid soaring price in the world market.
Head of the fiscal policy of the finance ministry Anggito Abimanyu said the country’s crude oil production has shown a downtrend, adding production has always been below 917,000 barrels as [...]

Nigerian oil output could fall by nearly a third by 2015 if the country does not garner more investment, the Financial Times reported Thursday.
The business daily quoted a progress report by advisers to President Umaru Yar’Adua that it had seen as saying that funding shortfalls “portend a grave danger not just to the reform process [...]

Peabody Energy Corp. has pledged nearly one million tons of coal a year and up to $10 million in development funds to an Illinois plant planners say would become the nation’s first to commercially turn coal into liquid fuels for tomorrow’s big-rig trucks, buses, barges or jets.
St. Louis-based Peabody, as part of the deal announced [...]