OPEC Producers Vow To Raise Oil Production
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Saudi Arabia&#39;s Oil Minister Ali Naimi said the kingdom has raised its capacity to 11 million barrels per day. Kuwait&#39;s Oil Minister Sheikh Ahmad Fahad Al Sabah called on OPEC
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The Organization of Petroleum Exporting Countries (OPEC) is likely to keep production close to a 25-year high to prevent shortages during the US winter, OPEC officials said.
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OPEC decided at its ministerial meeting here Wednesday to increase its oil production ceiling by 1million barrels a day beginning Nov. 1, but the decision will have little real impact on the high oil prices.
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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
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Oil ministers are meeting to consider raising the formal output ceiling as crude prices remain stubbornly high despite OPEC's persistent efforts to lower them.
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OPEC oil producers are unlikely to change output quotas at their December 10 ministerial meeting and have no need yet to rein in a supply surge that has begun to ease record prices, Nigeria's top oil official said on Saturday.
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LONDON, August 28 (IranMania) - Iran&#39;s OPEC governor said Friday that the high oil prices will continue to go up if the situation in Iraq deteriorates, stressing that the Iraqi crisis has coincided with an upsurge in the global demand for crude.
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Organization of Petroleum Exporting Countries (OPEC) ministers agreed to increase the cartel&#39;s official daily production quota by one million barrels.
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Oil cartel Opec said yesterday it would increase its official output by 1m barrels of oil a day from November, but oil prices still rose as the cartel noted it was already pumping more than it should.
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Ministers of the Organisation of Petroleum Exporting Countries expect oil prices to rise this week as they plan to demonstrate that they are serious about implementing
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OPEC on Friday prepared to keep oil  supply limits on hold, confident that the world economy can  absorb higher energy costs.
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VIENNA : OPEC insisted that high oil prices were a result of speculation and vowed to provide enough crude to calm global markets, while an energy research group warned prices could remain high for some time.
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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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VIENNA - OPEC sought to reassure jittery oil markets yesterday by agreeing to boost crude production by 500,000 barrels a day - a move the cartel conceded was prompted partly by "clouds on the horizon" from the US housing slump.
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Opec producers agree to keep output levels unchanged at 27 million barrels a day.
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OPEC is keeping its foot to the pedal on  production in a bid to drag down oil prices but may be  reluctant to rubber-stamp extra supplies by lifting official  output limits, Saudi Arabia said on Tuesday.
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OPEC will increase its oil production target by 1 million barrels a day later this year in a move widely viewed as more symbolic than significant, given