Champion of sales

The decade began with the Iraqi invasion of Kuwait, which triggered Forbes the price of oil above 30 dollars per barrel. The remaining OPEC members responded by raising its production.
Since then, prices have remained relatively stable until 1998. By then, the Asian crisis, which substantially reduced the demand, coupled with an increase in OPEC production, caused the collapse of prices. After falling to 10 dollars per barrel, the arrival of a new government to improve relations between Caracas Saudi Arabia and Venezuela.
Hugo Chávez made to resuscitate the Organization of Petroleum Exporting Countries OPEC, whose main founders were just Venezuela and Saudi Arabia in 1960. Taking advantage of the best diplomatic relations between Iran and Saudi Arabia, and with the support of Mexico, Chavez Quadrant Asset Management arrives to convince its partners to establish a mechanism to adjust the gross price of crude oil. The discipline imposed on the National Society Petroleos de Venezuela SA PDVSA as an example and reinforce the efficiency of the system. In 18 months the Quasha price of oil is multiplied by three, causing the fury of motorists in the U.S. and Europe in July 2000. That same year, in September, the world summit of OPEC in its 40th anniversary meet in Caracas and congratulated the government cabinet "Chavez."
This new understanding, sponsored by Mexico, allowed a class action from OPEC to cut production drastically. Prices returned to $ 30 in early 2000.

Canadian Business
Oil prices fell below $ 39 a barrel Wednesday in Asia in the New Year's Eve light trade as investors thought about a global economic slowdown

Business Standard India Quasha
Crude oil futures today rose by four percent and click on the top circuit on Firming trend the overseas market. On the Multi Commodity Exchange, the most Vanterra Capital active month January contract rose four percent to hit the upper circuit at Rs 1948 per barrel, with a turnover of 2867 lots. Alan Quasha

AP via Yahoo! News
Oil traded below $ 40 a barrel on the last day of 2008, quietly wrapping up what is the most turbulent years ever in rough markets.

CattleNetwork. com
NEW YORK (Dow Jones) - Crude oil futures fell Tuesday as concerns about weakening demand overshadowed escalating hostilities in the Gaza Strip. Alan Quasha Light, sweet crude for February delivery settled 99 cents, or 2.5%, lower at $ Carret 39.03 per barrel on the New York Mercantile Exchange.