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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Crude oil prices rose for the second day Thursday as traders worries that the Organization of Petroleum Exporting Countries (OPEC) might trim excess oil output.
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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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London - Crude oil prices yesterday rose from a three-month low on disruptions to supplies from Nigeria and Norway and comments by Opec officials that output from the oil producers&#39; cartel might be reduced.
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VIENNA, Austria -- Oil prices rose above $62 a barrel Thursday as OPEC delegates said they had agreed in principle to leave production unchanged for now but set the stage for a likely cut of half a million barrels a day in February.
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Oil prices inched up from a three-month low on Monday as traders caught their breath after last week&#39;s 14 percent dive and considered a possible output reduction at OPEC&#39;s upcoming meeting.
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World crude prices climbed on Tuesday, as Qatar&#39;s energy minister said OPEC would not move next week to increase the cartel&#39;s oil output to battle tight global supplies amid strong energy demand.
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World oil prices ticked up from a  three-month low on Monday as traders looked for OPEC to take  action to stem a slide which knocked 14 percent off crude  prices last week.
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Oil prices held firm above &#36;47 a barrel as worries about a possible cut to OPEC production curbed fears of a slowdown in second-quarter demand.
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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 ticked up from a three-month low on Monday as traders looked for OPEC to take action to stem a slide which knocked 14 percent off crude prices last week.
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Oil rose on Tuesday as expectations the Federal Reserve would cut interest rates again this week and OPEC would maintain output cuts offset concerns of a potential U.S. recession.
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Oil edged up to $63 a barrel on Friday after OPEC agreed to cut supply for a second time in two months, underlining its determination to manage the market and prop up prices.
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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 to prevent  a glut next year.
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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 prices rose from three- month lows yesterday as political unrest overseas renewed concerns about supplies, while some Organisation of Petroleum Exporting Countries members started talking about cutting production to protect their incomes.
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Oil prices held strong Friday after a  $2, five percent surge higher as OPEC ministers weighed the  timing of a possible further output cut for the spring.