South Korean refinery officials revealed yesterday that Saudi Aramco (Saudi Aramco) plans to cut its Asian oil exports by 14% in February 2007.

German Chancellor Merkel and European Commission President Barroso said after the talks in Berlin on the 9th that the two sides were very concerned about the EU constitution and the Russian oil pipeline cutoff.

After the United States and the United Kingdom jointly launched the Iraq war for more than three years and lost more than 3,000 troops, American and British oil giants are expected to obtain oil exploration rights in Iraq for 30 years.

North Korea's "Rodong Sinmun", "Korean People's Army" and "Youth Avant-garde" published a joint editorial on the 1st, stating that they will create a new situation for the peaceful reunification of the motherland in the spirit of "valuing the nation, safeguarding peace and realizing unity".

A sudden accident plunged the entire country of India into panic. According to a report by India Asia News Agency on the 23rd, a radioactive uranium sample was recently stolen from a research institute in Jharkhand state in eastern India.

OPEC unexpectedly announced on the 14th that it would cut production by another 500,000 barrels per day starting from February 1 next year. This news directly caused international oil prices to rise by nearly 3% in two trading days, returning to above US$63 per barrel.

According to Singapore's "Lianhe Zaobao" report on December 11, the safety of international waterways is closely related to global energy supply. In this regard, the Middle East countries, as the world's major oil exporters, can help maintain the Malacca Strait and Singapore in the region.

In the past two years or so, international oil prices have continued to remain at high levels, which has undoubtedly made it worse for the Philippine economy, which relies on imported crude oil. In order to reduce the threat of high oil prices to the Philippines and revive the economy, the Arroyo government is making every effort to develop new energy sources to achieve an energy self-sufficiency