Flax Flax Flax ("Linum usitatissimum"), also known as common flax or linseed, is a member of the genus "Linum" in the family Linaceae. It is a food and fiber crop cultivated in cooler regions of the world. The textiles made from flax are known in the Western countries as linen, and traditionally used for bed sheets, underclothes, and table linen. The oil is known as linseed oil. In addition to referring to the plant itself, the word "flax" may refer to the unspun fibers of the flax plant. The plant species is known only as a cultivated plant, and appears to
World oil market chronology from 2003 two major oil suppliers reducing supply generated fears of a repeat of the 1973 oil crisis. The mid-July decision of Saudi Arabia to increase oil output caused little significant influence on prices. According to the oil minister of the Islamic Republic of Iran, Gholam-Hossein Nozari, the world markets were saturated and a Saudi promise of increased production would not lower prices. Several Asian refineries were refusing Saudi petroleum in late June because they were over priced grade. On July 3, "the Brent North Sea crude contract for August delivery rose to $US145.01 a barrel" in Asian trade. London Brent crude