OPEC wrestles over output increase as hurricane, Iraq attacks lift ...
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OPEC members were divided yesterday on whether their output should be increased in a bid to boost global supply that might cause oil prices to drop.
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Crude oil futures rose on concern Hurricane Ivan may disrupt production, refining and the arrival of shipments as it moves into the Gulf of Mexico, where a quarter of US oil and natural gas is pumped.
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Saudi Arabia persuaded OPEC to raise oil output by 500,000 barrels per day on Tuesday in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing fuel stocks.
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WASHINGTON -- Oil prices edged higher yesterday amid violence in Nigeria and concerns that OPEC may reduce output when it meets next week, but buying was kept in check by forecasts calling for warmer US weather next week.
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World oil prices rose on Thursday on worries about oil production shut by Hurricane Ivan and a new storm that could delay imports from entering the Gulf of Mexico.
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WASHINGTON - Oil prices rose Thursday despite reports that refineries along the Gulf Coast, as well as production platforms in the Gulf of Mexico, that had been shut down were slowly being restaffed, as Hurricane Ivan proved to be less disruptive than feared.   "We've really not heard of any refineries in that area reporting any problems," and several are already being restarted, said Tom Bentz, a trader at BNP Paribas Futures in New York...
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Oil prices were forced higher today by an outbreak of violence in Saudi Arabia and concerns that Opec may cut output. The cost of a barrel of light, sweet crude oil climbed to 43.31 US dollars after gunmen
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US oil prices edged higher for the second day in a row on Tuesday amid calls within OPEC to crack down on excess output at this week&#39;s meeting.
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The record is in response to the slow recovery of US oil production after Hurricane Ivan in Florida, as well as unrest in key producers Saudi Arabia, Iraq and Nigeria.
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Opec members have split on whether their output should be increased in a bid to boost global supply that might cause oil prices to drop.
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US light crude jumps back above $42 a barrel as cartel prepares to meet to debate output. CAIRO  - Oil prices rose Thursday as OPEC producers debated whether the recent tumble in prices was severe
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World oil prices rose on Tuesday as  Hurricane Ivan charged toward the oil-rich Gulf of Mexico,  where energy companies had evacuated thousands of offshore  workers and shut some production.
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Oil prices jumped again Tuesday as Hurricane Ivan charged towards the oil-rich Gulf of Mexico and an explosion rocked Iraq&#39;s recovering oil industry.
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Saudi Arabia and other Gulf Arab states back a token rise in OPEC oil output in a gesture to consumer nations worried by the economic impact of $76 oil and rapidly diminishing stocks, an OPEC source said on Monday.
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U.S. oil prices climbed above &#36;43 on Monday as energy companies operating in the Gulf of Mexico braced for possible widespread output disruptions from a powerful hurricane and Iraq saw some of the bloodiest violence in weeks.
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Oil prices rose to near $63 a barrel on Friday, after BP Plc shut in output at an oil field in Alaska and OPEC members Nigeria and Venezuela pledged to cut production.
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VIENNA, Austria - OPEC will increase its oil production by 1 million barrels a day later this year in a move widely viewed as more symbolic than significant - given that the cartel is already exceeding the new quota.    Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said Wednesday the cartel agreed to the decision to raise output by nearly 4 percent, adding it would take effect Nov...