OPEC ministers say may hold off on more oil cuts
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OPEC appeared willing on Wednesday to pull back from more oil output cuts, responding to consumer nation calls to hold off until winter has passed to guard against price spikes that would hurt the world economy.
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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' purchasing power and ministers will take up the issue when they meet next week to discuss new output curbs.
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OPEC ministers were unclear on how the cuts would be distributed. Only seven of the 10 members subject to quota had been asked to reduce supplies.
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As OPEC ministers prepare to meet Monday, the question on their minds is not how high oil prices will rise, but how far they may drop.
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CAIRO - Saudi Arabian Oil Minister Ali Al Naimi said yesterday that world oil stocks were not building too fast and questioned the need for Opec to act on supply with prices still above the groupâs formal target.
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OPEC oil producers on Thursday weighed up whether heavy recent price falls were severe enough to warrant cutting back excess supply at Friday's ministerial meeting.
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OPEC, the producer of 40 percent of the world's oil, is considering its second production cut in three months to prevent a price drop early next year.
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Most OPEC oil ministers held the line on  Sunday that current output is sufficient to meet demand, but  the world&#39;s biggest exporter Saudi Arabia was silent ahead of a  September 11 meeting to chart production policy.
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OPEC may be considering cutting its production to stem the recent steep decline in oil prices.
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OPEC oil ministers will meet on January  30 as scheduled despite a request from Iraq to move the date of  the meeting to avoid a clash with the Iraqi elections, an OPEC  spokesman said Wednesday.
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OPEC is poised to stick with existing  oil supply limits, deferring a decision on cutbacks to counter  falling seasonal demand until March, cartel ministers said  Saturday.
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OPEC appeared willing on Wednesday to  pull back from more oil output cuts, responding to consumer  nation calls to hold off until winter has passed to guard  against price spikes that would hurt the world economy.
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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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CAIRO  - The Organisation of Petroleum Exporting Countries (OPEC) is expected to take a &quot;wait and see&quot; stance on what action to take in the face of a fall in oil prices, several ministers said ahead of a cartel meeting.
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The possibility of a cut in OPEC production grew stronger yesterday after the oil minister of Saudi Arabia indicated he was aware of majority sentiment in favor of a reduction.
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OPEC, the producer of more than a third of the world&#39;s oil, expects prices will recover from their second-largest drop this year as members enforce their decision to lower output, ministers said.
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VIENNA OPEC oil ministers are meeting on Wednesday in Vienna to consider changes to the group&#39;s formal output ceiling even as crude prices remain high despite the cartel&#39;s efforts to lower them.