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It looks like, with new economic data coming out, oil prices have begun to retreat from the year highs of around $72 a barrel.
Oil prices fell more than $2 a barrel today after the World Bank said that the global economy would shrink by nearly …

The Secretary of the United States Treasury, Timothy Geithner, said this weekend that the global recession seemed to be ‘losing force’ but that to come out of it strong the United States and China would need to institute major economic reforms to create a stronger …

The Organization of the Petroleum Exporting Countries met in Vienna Saturday and called for an end to “overproduction” by some members to increase the price of oil.
The “overproduction” makes up for just over a million barrels a day.
In the short term, the cut …

Toyota has been long known for its efficiency and quality in car making, but the global economy is hurting the company too.
In February Toyota reported a 40% drop in car sales in the United States alone. This has led the company to seek $2 billion …

Today in Asian trading, oil raised above $50 a barrel because of a level of optimism surrounding Obama’s announcement Monday about his economic team.
Whoever he chooses for the team faces the worst economic slowdown in decades, and with the United States’ economy foreshadowing the global …