Opec considers fresh output rise
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A meeting of the oil producers' group in Vienna will consider whether to boost output to rein in price rises, Saudi officials say.
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Oil prices rally as the president of Opec says the producers group is considering a cut in output.
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Leading OPEC producer Saudi Arabia said  on Monday it had made a renewed effort to deflate record high  world oil prices by upping crude output again.
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After producing at the fastest pace in 25 years, the cartel is ready to cut back, but just a bit. CAIRO, Egypt  - Oil prices rose Friday as OPEC oil producers were poised to stamp out excess supply that has lowered world prices from record highs.
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SYDNEY (Dow Jones)--OPEC should reaffirm its willingness to increase oil production when it meets next month and give a clear commitment to boosting production capacity, the head of the International
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A meeting of OPEC members this week will decide whether to increase its production band and prices, or lower them, amid wildly oscillating oil markets.
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Oil prices rose for the second day in a  row on Thursday as several OPEC ministers called for the cartel  to stop producing more oil than its official target.
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Oil prices inched up from a three-month low on Monday as traders caught their breath after last week&#39;s 14 percent dive and considered a possible output reduction at OPEC&#39;s upcoming meeting.
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The Organization of Petroleum Exporting Countries (OPEC) decided on Wednesday to raise its oil production quota by one million barrels a day from Nov. 1 in a step to soothe market nerves over climbing oil prices.
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OPEC said today that it would keep producing oil at current levels, a decision that would seem to set the scene for further declines in oil prices.
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OPEC may resist calls to raise oil output quotas much, if at all, when it meets this week for fear of turning a decline from record prices into a rout.
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OPEC has extended a message to calm down to the oil consuming countries following an agreement by its countries in Vienna to increase the ceiling of oil production by 4%, which means an increase of one million barrels a day, in the hope to reduce prices.
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JAKARTA: Opec wants a faster retreat in oil prices and will discuss whether to raise its official oil output ceiling at its September 15 meeting, cartel president Purnomo Yusgiantoro said on Thursday.
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Oil prices rise on speculation that producer cartel Opec may unveil  cuts in output at its December meeting.
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VIENNA -- High and volatile crude costs may signal ``a new price era," a senior OPEC official said yesterday, insisting that the 11-nation cartel is doing all it can to bring prices down to more reasonable levels.
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Opec has raised its output quotas in an attempt to bring oil prices below $40 a barrel. The cartel of leading oil producers says it will pump another million barrels of crude a day, bringing total output to 27 million barrels a day.
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OPEC was deciding Tuesday whether to maintain its production quota or give it a modest and symbolic boost to calm oil markets worried that there may not be enough crude to meet global demand by year's end.