Opec tipped to keep output stable
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Oil group Opec is expected to maintain its output quotas at a meeting on Monday, even as prices have been falling.
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CAIRO  - OPEC oil producers appeared set to agree on a reduction in crude output by stepping up quota compliance to thwart a feared drop in prices as global energy demand slows next year.
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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 nations enforce yesterday&#39;s decision to lower output, ministers said.
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Crude prices stayed firm on Wednesday as traders held their positions ahead of mid-week US petroleum inventories data and braced for a possible production cut from oil cartel OPEC, which meets later this week.
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Oil prices were steady on Wednesday as  Hurricane Ivan's effect on crude output and refineries in the  Gulf of Mexico balanced OPEC's attempts to reassure traders  with a four percent output ceiling hike.
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Oil prices held steady on Friday just hours ahead of a key meeting of the OPEC producers' cartel, which was expected to agree to curb crude output running above the group's official production limits.
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VIENNA -- A wary OPEC said yesterday it will keep pumping crude at current levels, while also making it clear it would consider trimming production if oil prices keep plummeting.
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JAKARTA OPEC is doing all it can to stabilize the world oil market and will increase spare output capacity by about one million barrels per day in the next few months, the cartel&#39;s president said Monday.
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Oil steadied near $66 a barrel on   Tuesday, with bargain-hunting traders ending a six-day retreat   after Iran sounded a softer note on its atomic programme and   OPEC agreed to keep production steady for now.
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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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Oil prices held steady on Friday just  hours ahead of a key meeting of the OPEC producers' cartel,  which was expected to agree to curb crude output running above  the group's official production limits.
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OPEC is unlikely to change production at  its meeting this month and, due to high prices, is likely to  continue supplying the market more than demand, Iran's OPEC  governor Hossein Kazempour Ardebili said on Saturday.
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Oil prices held firm above $47 a barrel  as signals from the OPEC cartel of a possible cut to production  countered fears of a slowdown in second-quarter demand.
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The Organization of Petroleum Exporting Countries, OPEC, will maintain the oil prices reference band unchanged in the coming meeting scheduled for September 15 in Vienna, said Purnomo Yusgiantoro, OPECâs president.
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OPEC sees no reason to change crude  output as the nine-month high in oil prices last week was due  to U.S. gasoline supply concerns and international political  tension, a senior OPEC delegate said on Monday.
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Oil prices eased on Friday as OPEC looked set to keep output unchanged at its meeting this weekend, although concern ahead of Sunday's election in Iraq limited the fall.
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SYDNEY (Dow Jones)--OPEC should reaffirm its willingness to increase oil production when it meets next month and give a clear commitment to boosting production capacity, the head of the International