A delegate made the announcement ahead of the next meeting of the Organisation of Petroleum Exporting Countries on April 17
Production freeze proposal falls flat but analysts hail potential significance
Many countries are already pumping at maximum capacity
Oil has lost more than 70 per cent of its value in 18 months
The financial stability of Russia is at stake if the price of oil falls below $30 a barrel
Iraq, Iran, Oman, Algeria, Saudi Arabia, Bahrain, Libya and Yemen could run out of cash in five years or less
GCHQ uses doctored websites including those from the business network LinkedIn to secretly install surveillance software on the computers of unwitting target companies and individuals it wants to spy on, the German news magazine Der Spiegel has reported.
The country's political upheaval has driven prices high, but fundamentals underpinning black gold are weaker than ever
Gordon Brown today insisted he was the right person to guide Britain through difficult economic times, as he continued his effort to reassert his authority in the wake of the worst weeks of his premiership.