Oil prices up as Opec hopes fade
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Oil prices are rising as hopes of a rise in production from next week's Opec meeting dwindle.
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LONDON  - Oil prices rebounded on concerns that OPEC producers might announce a surprise cut in output quotas when they meet later this week, following a recent market sell-off, analysts said.
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Oil prices added to strong gains on  Thursday, spurred by persistent OPEC talk of a cut in supplies  ahead of the second quarter that could drain healthy U.S.  stockpiles before summer.
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Oil prices added to strong gains on  Thursday, spurred by persistent OPEC talk of a cut in supplies  that could drain healthy U.S. stockpiles before summer.
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OPEC will take one million barrels of oil a day off oversupplied world markets as soon as possible with its first output cut in more than two years, a senior OPEC delegate said on Thursday, sending oil prices up nearly $1.50.
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CAIRO  - OPEC ministers played down the significance of an indifferent market reaction to their output cut to shore-up sliding oil prices, insisting that prices would climb again next week.
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Oil rose toward $62 a barrel on   Tuesday as producer group OPEC kindled fears of production   cuts, saying oil's steep slide from record peaks had brought   prices too low.
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Oil futures prices rose slightly Monday despite assurances from Middle East countries that they were committed to keeping the market well supplied as a strike began in Africa&#39;s largest exporter of crude.
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After producing at the fastest pace in 25 years, the cartel is ready to cut back, but just a bit. CAIRO, Egypt  - Oil prices rose Friday as OPEC oil producers were poised to stamp out excess supply that has lowered world prices from record highs.
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LONDONâ OIL prices rebounded yesterday after falling sharply last week on receding supply worries, buoyed by jitters over this weekâs OPEC meeting and last weekendâs seizure of four flow stations in Rivers State, Nigeria by militant youths.
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Oil edged up above $63 a barrel on Monday as two OPEC members trimmed production in an effort to tighten swollen supplies and halt a slide in prices.
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US light crude jumps back above $42 a barrel as cartel prepares to meet to debate output. CAIRO  - Oil prices rose Thursday as OPEC producers debated whether the recent tumble in prices was severe
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Oil prices rose slightly amid slow trading Tuesday in the aftermath of a U.S. holiday, with hopes that the inauguration of a new president in OPEC member Nigeria would bring a measure of stability to the market.
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SINGAPORE/LONDON  - Oil rose above $61 on   Wednesday as dealers balanced signs that producer group OPEC   may take action to stem tumbling prices against forecasts for a   rise in U.S. winter fuel stocks.
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Opec is under pressure to lift official production levels at a critical meeting today as global crude prices rose again on the back of pipeline attacks in Iraq and hurricanes heading for the Gulf of Mexico.
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Oil prices edged higher on Wednesday, pushed upwards by technical buying, but struggling to break above the narrow range that has persisted this month.
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Oil prices rise higher after a report shows a bigger drop than expected in US oil stocks, a day before a crucial Opec meeting.