Opec to seek oil price stability
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Opec ministers gather this weekend to set oil production levels, as traders watch the outcome of the Iraq election and other factors affecting the oil supply.
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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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The high price of oil will continue until the end of March 2008, the president of OPEC said Saturday.
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Oil prices rose slightly amid slow trading Tuesday in the aftermath of a U.S. holiday, with hopes that the inauguration of a new president in OPEC member Nigeria would bring a measure of stability to the market.
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JAKARTA/DUBAI  - OPEC is united on the need to  raise its oil price target to an average $30 a barrel, but the  cartel has yet to agree on when to implement the higher level,  a top Iranian oil official said on Thursday.
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OPEC sees no reason to change crude output as the nine-month high in oil prices last week was due to U.S. gasoline supply concerns and international political tension, a senior OPEC delegate said on Monday.
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Nigeria wants OPEC to raise its price band to be more in line with market reality, the country's top oil official, Edmund Daukoro, said following similar calls by Libya and the United Arab Emirates.
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OPEC was meeting on Tuesday to consider a Saudi proposal to raise oil output in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing stocks.
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OPEC kingpin Saudi Arabia on Monday hinted the cartel would not raise either its official production rate or the price band at a ministerial meeting, as the oil price had stabilised.
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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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LONDON - World oil prices ticked up from a three-month low on Monday as traders looked for Opec to take action to stem a slide which knocked 14 per cent off crude prices last week.
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TEHRAN/LONDON  - OPEC officials lined up to say the exporter group could do little to tame oil prices that hit $100 a barrel for the first time on Wednesday and world markets had enough crude oil.
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The Organization of Petroleum Exporting Countries is likely to keep production at a 25-year high to prevent shortages during the US winter and lower prices, OPEC officials said.
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Oil prices held above $75 a barrel on Wednesday as traders awaited data that is expected to show U.S. crude stocks fell last week and an OPEC meeting next week where supply is likely to remain unchanged.
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OPEC may set a new target range for oil prices next week and would like to see crude down from current lofty levels closer to $30 a barrel, the head of the producers&#39; cartel said on Wednesday.
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Ministers of the Organisation of Petroleum Exporting Countries expect oil prices to rise this week as they plan to demonstrate that they are serious about implementing
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JAKARTA, Indonesia -- The Organization of Petroleum Exporting Countries wants oil prices that traded near $50 a barrel last week before retreating this week to fall faster, and will discuss whether to increase production at a meeting next month, the