OPEC Set to Stick on Oil Output Policy
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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, which pumps more than a third of the world&#39;s oil, is considering raising its oil-output targets at a meeting this week in Vienna, although that wouldn&#39;t necessarily mean more oil production, the Wall Street Journal
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OPEC may resist calls to raise oil output quotas much, if at all, when it meets this week for fear of turning a decline from record prices into a rout.
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The oil ministers of Opec heavyweights Saudi Arabia and Kuwait have pledged to maintain output after prices hit new peaks at the end of last week.
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VIENNA -- OPEC, the producer of 41 percent of the world's oil, probably won't cut output at a meeting here this week as mounting tensions between the United States and Iran bolster prices.
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OPEC is poised to stick with existing  oil supply limits, deferring a decision on cutbacks to counter  falling seasonal demand, cartel ministers said on Saturday.
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OPEC is poised to stick with existing oil supply limits, deferring a decision on cutbacks to counter falling seasonal demand, cartel ministers said on Saturday.
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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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LONDON - Despite a recent plunge in oil prices, Opec producers appear to be in no rush to cut output quotas and markets expect the taps to be left wide open when ministers meet in Cairo this week.
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Iran, OPEC's second-biggest producer,  will comply with the cartel's decision to curb excess output  and pump crude oil at its official quota, an official said on  Wednesday.
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World oil prices steadied with prices, underpinned by the US Atlantic hurricane season -- which threatens to damage energy facilities -- and expectations that OPEC will keep its output unchanged at a meeting next week, dealers said Wednesday.
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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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OPEC meets on Thursday to set oil output policy through winter, under pressure from importing nations to steer away from an immediate cut that risks pushing up prices and damaging economic growth.
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Major Gulf oil producer Kuwait will back a hike of 1 million barrels per day in OPEC&#39;s output ceiling if crude prices remain at record levels, a move
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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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CAIRO - Giant oil producer Opec expects prices to recover from the second-largest drop this year as members enforce their decision to lower output.
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OPEC producers agreed Sunday to keep output limits on hold, convinced that oil prices near &#36;50 a barrel are not stifling world growth.