Market is in charge as OPEC&#39;s clout fades
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PARIS Early last summer, OPEC looked as though it had successfully absorbed tremendous shocks to the oil market - a strike in Venezuela, ethnic clashes in Nigeria, attacks on foreign workers in Saudi Arabia, a war in Iraq.
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LONDON - Oil prices eased further today, as the head of the OPEC cartel said markets were well-supplied with crude and traders continued to take profits from this year&#39;s 40 percent rally.
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VIENNA: Oilâs record price surge has thrust the Organisation of Petroleum Exporting Countries (Opec) into the political spotlight more than any time since the 1970s.
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U.S. oil prices eased on Tuesday as  the head of the OPEC cartel said markets were well-supplied  with crude and traders continued to take profits from this  year's 40 percent rally.
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OPEC is concerned by the fall  in the dollar and the producer group will take up the issue  when it meets next week to chart supply policy.
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VIENNA -- OPEC will hold its oil production steady for now -- but it is casting a wary eye on prices as the cost of crude plummets to five-month lows.
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World oil prices ticked up from a three-month low on Monday as traders looked for OPEC to take action to stem a slide which knocked 14 percent off crude prices last week.
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Business & money: Opec under fire as US crude nears $100 a barrel.
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With crude oil prices pushing to above $50 per barrel, the world is dividing into camps of winners and losers.
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The Organization of Petroleum Exporting Countries (OPEC) says it is doing everything it can to stabilize oil prices. The reality, however, is that
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Oil prices eased on Friday as OPEC looked set to keep output unchanged at its meeting this weekend, although concern ahead of Sunday's election in Iraq limited the fall.
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Oil prices fell on Monday after OPEC   agreed to keep pumping at high rates to ensure world consumers   were well-supplied despite a 20 percent slide in prices since   mid-July.
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Opec, the oil producers&#39; cartel, is poised to raise its target price range for a barrel of crude this week - delivering a harsh message to oil-guzzling economies to get used to a $30 floor under prices.
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A meeting of OPEC members this week will decide whether to increase its production band and prices, or lower them, amid wildly oscillating oil markets.
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Cartel may act to stem crude price slide; Nigeria unrest, attack on US consulate also weigh. SINGAPORE  - World oil prices bounced from a three-month low Monday as traders looked for OPEC to take
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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' purchasing power and ministers will take up the issue when they meet next week to discuss new output curbs.
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The world&#39;s major stock markets tried hard this week to ignore the proverbial elephant at the table -- record high oil prices -- but it is getting harder and harder to do so.