Crude oil prices rise on concern about less OPEC output
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Crude oil prices rose for the second day Thursday as traders worries that the Organization of Petroleum Exporting Countries (OPEC) might trim excess oil output.
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NEW YORK, December 6  - Oil prices increased today on fears of the announcement of an output cut by the OPEC during its meeting scheduled for later this 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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U.S. crude oil climbed above $60 a barrel  for the first time in a month on Friday, extending a gain of $2  a day earlier, amid signs of falling crude exports from  producer group OPEC.
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Oil prices rose off three-month lows yesterday, after an attack on the US consulate in Saudi Arabia and reports of an OPEC pledge to raise its minimum price target.
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Oil prices increased on Monday for the first time in a week, reaching $43 a barrel after the US consulate in Saudi Arabia was attacked, and amid growing concerns that OPEC may try to stabilize oil prices after last week&#39;s sharp sell off.
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Crude oil futures prices rose Wednesday because of lingering concerns about heating oil supplies and fears that OPEC could rein in output when it meets later this week.
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Oil jumped 75 cents to nearly $62 a   barrel on Wednesday as expectations that producing cartel OPEC   may slash output to defend prices countered rising U.S.   inventories.
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Crude oil futures rose above $42 a barrel Wednesday after government data showed an increase in US fuel supplies. Traders were also focused on an upcoming OPEC meeting at which the group could trim output in response to falling prices.
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Oil prices rose to near $63 a barrel on Friday, after BP Plc shut in output at an oil field in Alaska and OPEC members Nigeria and Venezuela pledged to cut production.
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WORLD oil prices rose overnight as traders reacted coolly to news of a rise in US commercial energy reserves, sweating instead about an OPEC gathering in Cairo this week.
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Oil gained nearly $1 to trade above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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A militant attack on the US consulate in Saudi Arabia and unrest in Nigeria pushed crude prices upward Tuesday, as supply fears crept back into play and traders considered a potential production cut from oil cartel OPEC.
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Crude oil futures rose Friday as markets remained wary about a possible strike by oil workers in Nigeria and potentially low heating oil supplies at the beginning of the Northern Hemisphere winter.
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Oil jumped 3 percent to nearly $63 a   barrel on Wednesday as expectations that producing cartel OPEC   may slash output to defend prices countered rising U.S.   inventories.
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The price of crude oil climbed in European trading Monday, edging back over $43 per barrel on fears that the producer cartel OPEC may cut production to stem a recent price drop.
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Crude oil prices surged to settle above 48 dollars per barrel Friday as traders concerned that OPEC might scale back output later this year.