News 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

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.

Fair oil price would be twice as high, Opec says

A "fair price" for oil is between $60 and $80 a barrel, the secretary general of Opec, Abdullah al-Badri, told participants at the World Economic Forum yesterday, up to twice as high as the current price in the market.

Russian-led gas producers' group raises fears of cartel

Russia's Prime Minister, Vladimir Putin, yesterday warned that the era of "cheap gas" was over as the leaders of the world's 12 biggest exporters of natural gas met in Moscow to form a body – to be known as the Gas Exporting Countries Forum (GECF) – which some worry could be dominated by Russia and operate as an Opec-style cartel.

David Prosser: Russia's plan to force up your gas bills

Outlook Hard-pressed households have every reason to expect significant cuts in their gas and electricity bills early in the new year – both are ultimately dependent on the global oil price, which has fallen by more than two-thirds since its peak in the summer. Still, if the Russian Prime Minister, Vladimir Putin, has his way – and he usually does – the respite on gas bills may only be temporary.

Oil price volatility threatens investment, Brown warns

Rethink of regulations planned to avoid bubbles fuelled by speculation

Oil producers seek oil price stability

The world's biggest oil producers and consumers called on Friday for cooperation to prevent extreme volatility in oil prices and help guarantee future energy supplies.

David Prosser: The oil market laughs in the face of Opec

Outlook It was difficult to suppress a smile as the oil price fell to a four-and-a-half-year low yesterday, just 24 hours after Opec announced its biggest ever reduction in production. The problem for the cartel is one of credibility – many in the oil market simply do not believe individual Opec members will stick to the commitments made on production cuts on Wednesday.

Opec cuts production to shore up falling oil prices

'Stabilisation' strategy will see cartel reduce supply by 2.2 million barrels a day

Inflation drops to 4.1 per cent after sharp fall in fuel prices

City analysts forecast deflation next year

Opec to consider further supply cuts as oil price rises again

The oil price rose yesterday on the strength of the Chinese interest rate cut, Europe's economic stimulus plan and the potential of yet another cut in supply in the near future.

David Strahan: You're wrong, PM. We need higher oil prices

Once again Gordon Brown has got energy policy all wrong. Even before Opec announced an output cut of 1.5 million barrels per day, the Prime Minister had denounced the move as "absolutely scandalous", fearing it would force the oil price higher just as the world slides into recession.

Opec cuts supply to try to stop oil price slide

But oil market falls again after emergency meeting

Opec cuts oil output

Oil fell below $64 a barrel today, to new 16-month lows, as gloom about a global economic downturn took the steam out of an Opec agreement to cut output by 1.5 million barrels a day.

Opec members split on oil output cuts

The pressure is on for the cartel of global oil-producing countries to cut output at today's emergency meeting to try to stabilise the erratic price.

Market Update: Prudential strongest as FTSE 100 rises

The FTSE 100 was up 84.07 points at 4147.08 while the FTSE 250 was down 11.25 points at 6299.58 at 12:18 pm.

Hamish McRae: We have learned to live with $100, and cheap oil is not in our interest

Might the present oil shock dissipate as it did in the 1970s and we head back to cheap oil again? The working assumption of most people is that it won't and that the age of cheap oil will never return – not just in our lifetimes but never, ever. But the oil price has dipped below $100 a barrel and the fact that Opec plans production cuts does suggest that some producers at least feel that cheaper, if not cheap oil, is on the cards.

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