OPEC Can Raise Output Capacity by 1 Mln Barrels/Day
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The Organization of Petroleum Exporting Countries, which supplies a third of the world&#39;s crude oil, can raise production capacity by 1 million barrels a day by year-end, OPEC President Purnomo Yusgiantoro said.
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OPEC may decide to increase oil output  at its February 1 meeting in Vienna if supply is not  sufficient, Indonesia's OPEC governor told Reuters on Thursday.
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SYDNEY (Dow Jones)--OPEC should reaffirm its willingness to increase oil production when it meets next month and give a clear commitment to boosting production capacity, the head of the International
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OPEC on Wednesday lifted oil supply  quotas by one million barrels a day, four percent, in a renewed  bid to force down stubbornly high crude prices.
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Oil rose nearly $1 to above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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OPEC nations agreed to revise their oil production quota, boosting it by 1 million barrels per day in an effort to talk down crude oil prices.
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A meeting of the Organization of Petroleum Exporting Countries (OPEC) has resulted in an increase of the cartelâs official oil production ceiling by one million barrels per day (bpd).
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JEDDAH, 30 November 2004 - Saudi Arabia plans to raise its oil production capacity to 12.5 million barrels per day from the current 11 million bpd over the next few years, Petroleum and Mineral Resources Minister Ali Al-Naimi said yesterday.
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VIENNA: The Organisation of Petroleum Exporting Countries on Wednesday decided to increase its official output by 1 million barrels per day from November 1, Iranian oil minister Bijan Namdar Zangeneh and his Algerian counterpart Chakib Khelil said.
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Oil supply fears eased slightly on  Wednesday as OPEC hiked production quotas by 1 million barrels  a day, balancing risks from Hurricane Ivan that has temporarily  closed 60 percent of Gulf of Mexico crude output.
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THE Organisation of Petroleum Exporting Countries (OPEC) is hiking its official output by one million barrels per day effective November with Nigeria getting 82,000 barrels per day or 8.2 per cent of the new quota.
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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, OPEC officials said on Thursday, sending oil prices $1.50 higher.
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OPEC decided at its ministerial meeting here Wednesday to increase its oil production ceiling by 1million barrels a day beginning Nov. 1, but the decision will have little real impact on the high oil prices.
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OPEC on Wednesday lifted oil supply  quotas by one million barrels a day, four percent, in a renewed  bid to force down stubbornly high world crude prices.
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Oil prices rose more than $1 a barrel yesterday after an attack on an oil facility in Iraq and after Saudi Arabia's oil minister said OPEC might decide to cut output again when it meets next month.
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VIENNA, Austria - OPEC will increase its oil production target by 1 million barrels a day later this year in a move widely viewed as more symbolic than significant, given that the cartel has been exceeding the new output limit since the beginning of the year.    Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said Wednesday the cartel agreed to the decision to raise output by nearly 4 percent, adding it would take effect Nov...
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Oil cartel Opec said yesterday it would increase its official output by 1m barrels of oil a day from November, but oil prices still rose as the cartel noted it was already pumping more than it should.