Oil slips after Nigeria cut appears unilateral
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Oil fell back toward $62 on Friday after   OPEC member Nigeria appeared to be alone in its decision to   trim output to stem a two-month price slide.
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Oil prices remained just below record  highs on Friday amid concern over possible conflict in  Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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Oil fell more than a dollar to below $62 a barrel on Monday as healthy fuel inventories in top consumer the United States countered plans by OPEC members Nigeria and Venezuela to trim output.
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Several key OPEC producers including  Saudi Arabia, Kuwait and Nigeria have agreed to trim oil supply  from October 1 under an unofficial deal to stem falling prices,  a Nigerian oil industry source said on Thursday.
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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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LONDON SEPTEMBER 6: Oil prices eased on Monday as speculative funds continued to take profits but a tight global supply picture stopped the selling from gaining much momentum.
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NEW YORK -- Crude oil futures slipped yesterday as Norwegian officials ordered striking oil workers back on the job, preventing more cuts in production from the third-largest global exporter of crude.
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Nigeria, the world's eighth biggest oil   exporter, is trimming supplies from October 1 after discussions   with fellow OPEC members on how to stem a price fall, a senior   Nigerian oil industry source said on Thursday.
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Oil prices tiptoed lower on Tuesday, marking a fourth day of losses as worries over potential supply shortfalls ahead of winter faded and Nigerian unions called off a strike that could have disrupted exports.
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Oil futures slipped on Monday in modest profit taking from a surge late last week on jitters over Nigerian output, but losses were checked by refinery outages and signs that OPEC's supply cuts were helping drain stockpiles.
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The intervention of community elders in a pipeline dispute in the Niger Delta helps oil prices slip back as supply concerns ease.
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Oil prices turned lower Monday as traders apparently shrugged off worries about whether production cuts by two key producing nations were harbingers of further restrictions by OPEC members.
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Nigeria ordered immediate cuts in domestic fuel prices today in a bid to avert a looming general strike that unions say will target oil exports.
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Oil prices slid from record highs above &#36;50 a barrel Wednesday as the U.S. government reported a surprise increase in crude stocks and rebels in Nigeria's oil-rich delta region agreed to a preliminary cease-fire with the government.
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Oil prices retreated from highs reached last week due to balmy weather in the United States, but stayed above $62 a barrel yesterday as blasts tore through two oil company facilities in southern Nigeria.
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Oil prices eased again on Tuesday with  the re-opening of two Iraqi pipelines, but most financial  markets traded in narrow ranges after sharp reactions in  previous sessions.
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Oil prices fell in light trading yesterday , eased by the end of a Nigerian oil workers' strike over the weekend.