S. Arabia: Oil Prices will Drop $10-15
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Saudi Arabian Oil Minister Ali El-Naimi has said that the $10-15 &quot;fear premium&quot; that has been present in oil prices will disappear as the problems of &quot;supply&quot; and &quot;geographic tension&quot; diminish.
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With crude oil prices drifting down to as low as $ 41 per barrel, OPEC is expected by many observers to slash production, when it meets on Friday.
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VIENNA: OPEC is keeping its foot to the pedal on oil production in a bid to push crude prices back below $40 a barrel. Risking a counter-seasonal fourth quarter build in world crude stocks, Saudi Arabia will
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The Organization of Petroleum Exporting Countries wants oil prices to fall faster to an ideal price of around US$30 a barrel, and will discuss whether to increase production at a meeting next month, the group&#39;s president said Thursday.
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Oil prices eased on Monday as top world exporter Saudi Arabia slashed prices for its crude sales to the United States and Europe in an effort to shift the large volumes it is offering to cool world markets.
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Oil prices eased on Monday as top world  exporter Saudi Arabia slashed prices for its westbound crude  sales in an effort to shift the large volumes it is offering to  cool world markets.
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Oil prices fall as it emerges that supply from Iraq will not be affected by a bomb blast and Opec's  members are already producing more oil.
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Oil prices fell to a fresh five-month  low on Monday as a bout of fund-led selling countered a cut to  supplies by top OPEC exporter Saudi Arabia.
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American motorists should expect   gasoline prices to slide another 10 cents at the pumps in the   next couple of weeks, tracking a steep decline in the price of   crude oil, the AAA motorist group said on Tuesday.
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Oil prices jumped early yesterday on news reports that the Organization of the Petroleum Exporting Countries, which supplies about 40 percent of the world's oil, was preparing to cut output to bolster sagging prices. But prices closed virtually unchanged at $60.03 a barrel because it remained...
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Oil prices fell for the fifth day in a  row on Thursday after word of a peace deal in the embattled  Iraqi city of Najaf raised hopes of more reliable oil shipments  from the energy-rich country and encouraged a run of  profit-taking by big money speculators.
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SYDNEY: Opec may set a new target range for oil prices next week and would like to see crude down from current lofty levels closer to $US30 ($NZ46.
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Oil prices sank to a four-month low  below $41 for U.S. crude on Wednesday after leading OPEC  producer Saudi Arabia questioned the need for the cartel to  curb supplies.
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CAIRO - Giant oil producer Opec expects prices to recover from the second-largest drop this year as members enforce their decision to lower output.
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Oil prices slid to fresh six-month lows   on Wednesday on rising winter fuel stocks and waning concern   over Iran, but the world's largest exporter Saudi Arabia   signaled the market may have fallen enough.
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Oil prices eased on Monday as top world  exporter Saudi Arabia slashed prices for its crude sales to the  United States and Europe in an effort to shift the large  volumes it is offering to cool world markets.
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OPEC will consider raising its average price band at a meeting next week, but has forecast crude prices to fall by up to a third once elections in the US and Iraq are completed.