Oil gyrates on OPEC, economy concerns
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Oil prices fluctuated Thursday, supported by forecasts that OPEC oil shipments are falling and pressured by concerns about the economy.
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Oil prices rose slightly amid slow trading Tuesday in the aftermath of a U.S. holiday, with hopes that the inauguration of a new president in OPEC member Nigeria would bring a measure of stability to the market.
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Oil prices surged more than 2 percent  on Wednesday amid worries a possible OPEC output cut this  spring could quickly sap swelling U.S. crude and gasoline  stockpiles.
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U.S. oil prices fell more than $1 on  Monday on continued profit-taking as producer-group OPEC eyed  increases in the coming months in its tight spare capacity,  countering worries over stumbling Iraqi oil exports.
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LONDON - 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 per cent off crude prices last week.
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Oil prices fell on Monday, extending the previous session's decline, after remarks by oil producer group OPEC that it was concerned about the potential impact of high oil prices on the global economy.
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Oil slid towards $76 on Monday, as traders waited to see if top exporter Saudi Arabia will continue to back steady OPEC supply curbs, after weak U.S. jobs data raised concerns of a recession that could hit demand.
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Oil hovered above $95 a barrel on Monday, as investors weighed the effects of a slowing U.S. economy against an escalating row between OPEC member Venezuela and oil major Exxon Mobil .
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Oil steadied near $60 on Friday as investors were cautious on OPEC's resolve to carry out a planned supply cut and fuel inventories swelled in top consumer the United States.
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Oil jumped 3 percent to nearly $63 a   barrel on Wednesday as expectations that producing cartel OPEC   may slash output to defend prices countered rising U.S.   inventories.
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Oil fell on Tuesday as concerns about U.S. economic health and signs OPEC was ramping up output pulled prices further from the record $90 struck last week.
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OPEC has no power over many of the factors buffeting oil markets and the group is worried by record high prices that are threatening the world economy and future demand growth, OPEC ministers said on Tuesday.
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OPEC was meeting on Tuesday to consider a modest rise in oil output proposed by Saudi Arabia and other Gulf Arab states in a gesture to consumers worried by the economic impact of $77 oil and rapidly diminishing stocks.
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Just at the moment the U.S. economy could use a boost, the recent surge in oil prices is having the opposite effect.
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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' oil revenue and ministers will take up the issue when they meet next week to discuss new output curbs.
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Oil dropped $1 on Monday as OPEC looked   set to keep pumping at high rates to ensure world consumers   were well-supplied despite a 20 percent fall in prices since   mid-July.
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VIENNA: OPEC is keeping its foot to the pedal on oil production in a bid to push crude prices back below $40 a barrel. Risking a counter-seasonal fourth quarter build in world crude stocks, Saudi Arabia will