Oil falls, OPEC concerned about world economy
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Oil prices fell on Monday on expectations of higher U.S. refinery production and after remarks by OPEC that it is ready to pump more oil if needed.
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World oil prices fell in New York and rose in London Tuesday as traders eyed volatile global stock markets and awaited US energy stockpiles data, a US interest rate call and an OPEC production meeting later in the week.
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Oil prices continue falling on comments from Opec that suggest increasing supply is a possibility.
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JAKARTA  - Worldwide demand for oil is expected to drop by about one million barrels per day by the second quarter of 2005 after the northern hemisphere&#39;s winter season ends, OPEC&#39;s president said.
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World oil prices slipped Monday, tracking a slump in global stock markets as investors worry about slowing economic growth and a risk of recession in the United States.
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Crude oil prices fell Thursday after the Organization of Petroleum Exporting Countries (OPEC) lowered its forecasts for growth in global demand this year and next.
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PARIS The Organization for Economic Cooperation and Development on Tuesday lowered its forecast for global economic growth next year, saying that the rise in oil prices was dampening global trade and consumer confidence.
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OPEC oil cuts already in place are tightening the world market ahead of winter and may prevent a recovery in consumer stocks, the International Energy Agency said on Wednesday, urging OPEC to hold off on a new reduction.
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Oil slid towards $76 on Monday, as traders waited to see if top exporter Saudi Arabia will continue to back steady OPEC supply curbs, after weak U.S. jobs data raised concerns of a recession that could hit demand.
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Oil fell below $60 on Friday as investors doubted OPEC's resolve to carry out supply cuts and focused instead on brimming fuel stockpiles in top consumer the United States.
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Oil prices slid on Monday, drifting  toward $90 a barrel as a weak close on Wall Street spurred some  profit taking, although expectations that OPEC will maintain  its production curbs this week limited losses.
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Oil fell below $60 on Friday as investors doubted OPEC's resolve to carry out a planned supply cut and fuel inventories swelled in top consumer the United States.
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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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ABU DHABI/VIENNA  - 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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Oil fell on Monday, extending the past  three sessions' decline, as the growing threat of a U.S.  economic downturn outweighed supply worries in Iran and  Nigeria.
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Fifteen months ago, key members of the Organization of the Petroleum Exporting Countries said that the steep price of oil, about $70 a barrel, was a concern because it might endanger global economic growth -- and stifle global demand for oil.
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Oil prices continue to slide amid fears that a US recession will weaken global demand for crude.