Oil prices rise on Opec cuts talk
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Oil prices rise on speculation that producer cartel Opec may unveil  cuts in output at its December meeting.
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Oil prices edged higher on Friday,  ending a three-day losing streak, as dealers weighed OPEC's  threat to cut production against healthy supplies of crude and  gasoline in the United States, the world's biggest consumer.
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Oil prices rose Monday morning, climbing toward $46 per barrel, after reports that embattled Russian oil giant Yukos suspended some oil exports to China and as traders expect further declines in the US petroleum supply due to production, refining and
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Oil prices rose for the second day in a  row on Thursday as several OPEC ministers called for the cartel  to stop producing more oil than its official target.
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Oil prices added to strong gains on  Thursday, spurred by persistent OPEC talk of a cut in supplies  ahead of the second quarter that could drain healthy U.S.  stockpiles before summer.
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Oil prices jumped almost $1 to more than $62 a barrel this afternoon after the Organization of Petroleum Exporting Countries announced plans to cut production by 500,000 barrels a day.
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Crude oil futures prices rose Wednesday amid concerns about tight heating oil supplies and fears that OPEC could rein in output when it meets later this week.
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Oil prices rose for the second day in a row on Thursday as several OPEC ministers called for the cartel to stop producing more oil than its official target.
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Oil prices edged up on Thursday after a larger-than-expected drop in U.S. crude stocks and as traders waited to see if OPEC ministers meeting in Nigeria would hold off from making further cuts to output.
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Oil prices rise amid colder weather in the US and speculation that oil cartel Opec might cut output.
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Oil gained nearly $1 to trade above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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WORLD oil prices rose overnight as traders reacted coolly to news of a rise in US commercial energy reserves, sweating instead about an OPEC gathering in Cairo this week.
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Oil prices rise higher after a report shows a bigger drop than expected in US oil stocks, a day before a crucial Opec meeting.
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Oil rose above $59 a barrel on Wednesday after Kuwait said it may join other OPEC countries in cutting output if prices continue their three-month slide.
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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, a senior OPEC delegate said on Thursday, sending oil prices up nearly $1.50.
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Oil rose on Thursday after OPEC officials said the producer group will cut output by 1 million barrels per day as soon as possible to prop up prices.
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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, a senior OPEC  delegate said on Thursday, sending oil prices up nearly $1.50.