Russia becomes world biggest oil producer surpassing Saudi Arabia

Russia becomes world's biggest oil producer - 09 Sept 09

For decades the world's major oil producers have tried to control prices by cutting or raising supplies, which relied on all of them sticking to agreed quotas.

But unity amongst oil-rich nations appears to be crumbling.

Now Russia has just overtaken Saudi Arabia as the world's biggest producer and it's done it by failing to keep its promise to slow down production.

Neave Barker reports from Moscow.
Category: News & Politics
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Bob Chapman on Gold Silver China Dollar collapse and much more

Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.

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Mortgage Rates Near Record Lows

Freddie Mac reports the 30-year fixed rate has dropped to 5.08%.
Low mortgage rates encourage homeowners to refinance and first time buyers to take the
The bond market has ignited a spike in mortgage rates and that could snuff out the recent increase in home sales. - Freddie Mac reports the 30-year fixed rate has dropped to 5.08%.
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Potential buyers got some extra motivation on Tuesday when mortgage interest rates dropped another half percent. Priya David reports.