OPEC to hike crude oil output quota by 1 mil barrels
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VIENNA - The Organization of Petroleum Exporting Countries agreed Wednesday to boost its current daily crude oil production quota by 1 million barrels to 27 million barrels from Nov 1 to try to stabilize recently high-flying crude oil prices.
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OPEC on Wednesday agreed to lift formal  output quotas by one million barrels a day, four percent, to 27  million barrels a day, an OPEC delegate said.
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DUBAI/ABUJA  - 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 back above $60.
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OPEC is capable of increasing oil output levels by a further 1.5 million barrels per day to help ease pressure on the market but new supplies may not lower prices, the organisation&#39;s president says.
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OPEC will increase oil production by 500,000 barrels a day to meet an expected surge in winter consumption.
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Kuwait would back a hike of 1 million barrels per day (bpd) in Opec&#39;s oil output ceiling if crude prices remained at record levels, it said yesterday in a move
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Major Gulf oil producer Kuwait will  back a hike of 1 million barrels per day in OPEC's output  ceiling if crude prices remain at record levels, a move that  would bring the cartel's formal production limits in line with  actual supplies.
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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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NEW YORK, September 16 (New Ratings) - The Organization of Petroleum Exporting Countries (OPEC) has decided to raise its official crude oil output quota by 1 million barrels per day, effective from November 1 this year.
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The Organization of the Petroleum Exporting Countries has agreed to increase output by one million barrels a day in a move to lower oil prices.
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OPEC ministers have agreed to cut back crude oil production by 1 million barrels a day in an effort to halt a decline in oil prices.
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OPEC on Wednesday agreed to lift formal output quotas by one million barrels a day, four percent, to 27 million barrels a day, an OPEC delegate said.
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OPEC decided at its ministerial meeting here Wednesday to increase its oil production ceiling by 1 million barrels a day beginning Nov. 1, but the decision will have little real impact on the high oil prices.
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(CBS/AP) Juggling between its need to keep prices up without having them explode, OPEC agreed Friday to reduce its daily oil output by 1 million barrels a day - and reserved the right to cut deeper early next year if crude turns much cheaper than now.
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The Organization of the Petroleum Exporting Countries (OPEC) has agreed informally the need to cut daily output by at least 1 million to keep the price of its crudes above $50-$55, the Financial Times reported on Thursday without naming sources.
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Top oil exporter Saudi Arabia vowed on Sunday to maintain spare oil production capacity of 1.5 to 2 million barrels per day and said it was prepared to hike output to meet customer demand.
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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 back above $60.