Oil Holds Strong as OPEC Promises Defense
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Oil prices steadied Friday, after  Thursday's 5 percent surge, as OPEC producers signaled their  readiness to defend prices by cutting global supply.
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Oil prices held firm just above &#36;47 a barrel on Friday, bolstered by a tightening outlook for market fundamentals and sliding U.S. temperatures.
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Oil prices stayed on the boil above  $53 a barrel on Monday, bolstered by persistent anxiety over  OPEC member Nigeria and the nearly month-long loss of a quarter  of U.S. Gulf of Mexico production, traders said.
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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.
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Oil prices held firm just above $47 a  barrel on Friday, bolstered by a tightening outlook for market  fundamentals and sliding U.S. temperatures.
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OPEC has stressed its view that high oil prices were a result of speculation and pledged to provide enough crude to calm global markets, while an energy research group warned prices could remain high for some time.
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VIENNA: Opec is keeping its foot to the pedal on production in a bid to drag down oil prices but may be reluctant to rubber-stamp extra supplies by lifting official output limits, Saudi Arabia said yesterday.
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ABU DHABI - Opec vowed yesterday to do what it can to deflate record high oil prices that have soared above $53 a barrel, and top exporter Saudi Arabia promised to keep the world supplied with as much oil as it needs.
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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
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Oil prices held strong on Friday not far  below the $55-a-barrel mark as traders worried time is running  out to top up low heating oil inventories before winter.
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OPEC vowed Sunday to do what it can to deflate record high oil prices that have soared above $53 a barrel, and top exporter Saudi Arabia promised to keep the world supplied with as much oil as it needs.
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LONDON - Oil prices held strong above $53 a barrel today as worries over a winter supply crunch countered expectations that high fuel costs would curb growth in petroleum demand next year.
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OPEC on Friday prepared to keep oil  supply limits on hold, confident that the world economy can  absorb higher energy costs.
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OPEC was poised to keep production steady Thursday as Iran blamed the United States for high oil prices, saying threats against its nuclear program are behind much of the fear and speculation in the market.
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Oil prices held strong on Friday not far below the $55-a-barrel mark as traders worried time is running out to top up low heating oil inventories before winter.
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Oil prices held steady near $47 on  Wednesday, a day after striking another record peak as U.S.  inflation stayed in check despite scorching energy costs and  ahead of weekly data expected to show a drop in crude stocks.
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Oil held above $61 on Tuesday after   rebounding from a six-month low as speculators fear a deepening   fall could prompt OPEC to rein in output.