Oil rises to $63 on OPEC cut as weather weighs
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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 climbed near $60 a barrel on Tuesday after bad weather disrupted loadings at Alaska's main export terminal and analysts forecast a drawdown in U.S. fuel stocks ahead of winter.
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Oil prices climbed above $62 a barrel yesterday as colder weather drifted eastward across the United States and after government data showed shrinking supplies of crude, gasoline, and heating oil.
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Oil prices rose toward $61 a barrel yesterday on concerns about winter weather, a December OPEC meeting, and violence in Iraq.
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Oil steadied above $62 on Friday as   burgeoning U.S. inventories and slower-than-expected economic   growth balanced possible action from some OPEC producers to   trim output to halt the decline in prices.
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U.S. crude oil climbed above $60 a barrel for the first time in a month on Friday, extending a gain of $2 a day earlier, amid signs of falling crude exports from producer group OPEC.
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Oil steadied at a seven-day high of   just under $63 a barrel on Thursday, following the previous   day's $2 leap as traders awaited clearer signs from OPEC on   whether it would cut output to counter swelling U.S. stocks.
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World oil prices rose on Friday on  worries that the ongoing storm season in the U.S. Gulf would  continue to hamper energy production and imports, delaying  vital pre-winter stock building.
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Oil held around $60 on Friday, as traders weighed OPEC's plans to cut production against overflowing stockpiles in top consumer the United States.
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Oil steadied near $63 a barrel on   Thursday, holding onto the previous day's gains supported by   investment fund buying and speculation that OPEC could trim   output to bolster prices.
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SINGAPORE/LONDON  - Oil rose above $61 on   Wednesday as dealers balanced signs that producer group OPEC   may take action to stem tumbling prices against forecasts for a   rise in U.S. winter fuel stocks.
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Oil prices rise amid colder weather in the US and speculation that oil cartel Opec might cut output.
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LONDON -- Oil prices fell but held above $61 a barrel yesterday as the market awaited OPEC's decision this week on whether to make further production cuts to shore up prices.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialized countries.
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Oil rose on Thursday after OPEC officials said the producer group will cut output by 1 million barrels per day as soon as possible to prop up prices.
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Oil held steady above $63 on Monday, as a dense fog delayed U.S. crude shipments and traders factored in OPEC's plan to further cut output.
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Oil prices firmed above $47 a barrel  on Friday, bolstered by a tightening outlook for market  fundamentals and concern OPEC may cut its output this spring.