NOPEC

President George W. Bussh has said he'd veto a so-called NOPEC bill passed in May by the House of Representatives, because it may limit the availability of gasoline and further increase fuel prices.
An oil price of $150 a barrel may be ``around the corner,'' Ghanem said in a Bloomberg Television interview.
A decision by the European Central Bank to increase interest rates in July may cause the dollar to decline and prompt investors to buy more oil, Khelil, who is also the Algerian oil minister, told the Paris-based television channel. Prices would ease toward the end of the year, he said.
Threats against Iran would also support prices during the summer, he said. A political crisis that would stop Iran's oil productioon would push prices over $200 a barrel, to possibly $400 a barrel, he said.
Saudi Arabia pledged it will pump an extra 200,000 barrells a day next month to calm the oil market at a June 22 meeting. The kingdom hosted the summit of 35 producing and consuming countries in the Red Sea port of Jeddah.