Goldman, Sachs Report Makes Case For $200 Oil

Oil prices threaten to hit $200 a barrel in a final "super-spike" over coming months as producers fail to keep pace with blistering demand from China and the Middle East, according to a controversial report by Goldman Sachs.

Reduced Oil Production May Lead To Indonesia Leaving OPEC

President Susilo Bambang Yudhoyono of Indonesia said Tuesday that his country was considering quitting OPEC because it was no longer a net oil exporter.

Crude Oil Hits $122 On Threat Of Supply Disruption

Crude oil rose to a record $US122.73 a barrel in New York on threats to supply in Nigeria and Iraq and growing Asian fuel consumption.