Oil Slips as OPEC Sees Oversupply
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Oil prices fell sharply on Wednesday  after the head of producer group OPEC said the market was  oversupplied, outweighing worries that powerful Hurricane Ivan  could disrupt U.S. offshore oil and gas production in the  coming days.
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Oil prices slid on Monday, drifting  toward $90 a barrel as a weak close on Wall Street spurred some  profit taking, although expectations that OPEC will maintain  its production curbs this week limited losses.
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Oil prices continue falling on comments from Opec that suggest increasing supply is a possibility.
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DOHA - Opec producers are enjoying less of a windfall than US$50 ($70) oil prices suggest, as big discounts for their lower-quality crude and a weak dollar hit export earnings, Opec officials say.
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Oil prices eased further on Tuesday, as the head of the OPEC cartel said markets were well-supplied with crude and traders continued to take profits from this year's 40 percent rally.
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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 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 edged lower towards $77 a barrel on Monday, with the market keenly watching the actions of funds after OPEC expressed concern over near record prices and pledged to pump more crude if needed.
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Oil prices slid on Monday after OPEC  members signaled the cartel could wait until its mid-March  meeting to make any production cuts.
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Oil prices fell on Monday on expectations of higher U.S. refinery production and after remarks by OPEC that it is ready to pump more oil if needed.
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OPEC oil producers said Thursday that  Friday's ministerial meeting would rein in oversupply to  bolster falling prices and that the cartel would have to reduce  output quotas early next year.
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Oil prices are rising as hopes of a rise in production from next week's Opec meeting dwindle.
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Crude oil prices fell Thursday after the Organization of Petroleum Exporting Countries (OPEC) lowered its forecasts for growth in global demand this year and next.
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OPEC oil producers yesterday said they had already moved to rein in excess supply, a day after doubts over the group&#39;s resolve sent prices into a tailspin.
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Oil dropped over $2 to below $58 on Monday after leading exporter Saudi Arabia, fellow OPEC member Qatar and OPEC's head of research said the organization may steer away from further supply cuts at its March 15 meeting.
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Oil fell below $60 a barrel on Friday as investors doubted OPEC's resolve to carry out a planned supply cut and fuel inventories swelled in the United States, the world's top consumer.
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Oil prices fell again Thursday as worries over supply disruptions eased. New York light sweet crude ended the day just over $43, and OPEC president Purnomo Yusgiantoro said the cartel hoped