Oil falls, OPEC concern on 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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Oil prices fell Thursday, failing to top the $100-a-barrel mark, despite a larger-than-expected fall in crude inventories.
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Oil eased below $63 a barrel on Monday as investors weighed plans by OPEC members Nigeria and Venezuela to trim output against healthy inventories in top consumer the United States.
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Oil prices slid on Thursday after a bigger-than-expected rise in U.S. fuel inventories soothed some worries of a winter squeeze, but the fall was limited by an upcoming OPEC meeting and Iraqi elections.
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Oil prices fluctuated Thursday, supported by forecasts that OPEC oil shipments are falling and pressured by concerns about the economy.
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Oil prices dropped by more than $1 on   Monday after OPEC agreed to keep pumping at high rates to   ensure world consumers were well-supplied despite a 20 percent   fall in prices since mid-July.
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Oil fell to $90 a barrel on Monday, as weaker global stock markets spurred profit taking, although expectations that OPEC will resist pressure to raise output this week limited deeper losses.
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Oil prices continue to slide amid fears that a US recession will weaken global demand for crude.
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Oil prices fell for a third day on Tuesday on expectations of rising fuel stockpiles in the United States and after OPEC vowed to pump more crude if needed.
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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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OPEC on Monday said the fundamentals of the world oil market show signs of weakening in 2007 as economic growth slows and supply from non-OPEC countries rises faster than global demand.
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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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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' oil revenue and ministers will take up the issue when they meet next week to discuss new output curbs.
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Crude oil fell as OPEC President Purnomo Yusgiantoro said the group may raise its spare production capacity to as much as 2.5 million barrels a day by the end of this year, reducing concern about shortages.
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Oil dropped more than $2 a barrel on Friday, joining a slump across the commodities markets amid concern higher interest rates could slow economic growth and cool demand.
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Oil prices fell Tuesday after losing nearly $2 a barrel the day before amid easing concerns about the possibility of more production cuts by OPEC members.
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World oil prices fell on Monday in line with falling stock markets on fears that wider economic weakness could have a negative impact on demand for crude later this year, analysts said.