Chevron profit rises on higher oil prices

OPEC leaders meeting in Rome today are expected to reject calls from the West to increase oil production in an attempt to calm record oil prices....

A rocket attack on a Japanese oil tanker off the coast of Yemen prompted oil prices to hit a record $117.40 US a barrel Monday....

Oil prices will likely go higher but OPEC's secretary-general added yesterday that the organization will raise production if price pressure is due to a shortage of supply something he doubts....