Peace &#39; key&#39; to lower oil prices
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Oil prices will only fall if global conflicts are resolved, the boss of oil prducers&#39; organisation Opec has warned. Opec president Purnomo Yusgiantoro said its members were increasing production to meet high
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OPEC, the producer of more than a third of the world&#39;s oil, expects prices will recover from their second-largest drop this year as members enforce their decision to lower output, ministers said.
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The price of oil has fallen as fears about interruptions to supplies being pumped out of Iraq eased slightly.
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Oil may cost as much as 10 percent less next year if US Democratic challenger Senator John Kerry defeats President Bush in Tuesday&#39;s election, some energy analysts said on Monday.
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Oil dipped back below $64 a barrel on   Wednesday as traders await the debate among members of the U.N.   nuclear watchdog over Iran's atomic work.
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Oil prices will only fall if global conflicts are resolved, the boss of oil producers' organisation Opec says.
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Crude oil prices have dipped in New York, sliding as much as two dollars to around $50 a barrel. That&#39;s extending declines seen last week despite concerns that a planned strike in Nigeria could affect output.
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Oil fell back below $50 on Thursday, resuming a downturn that has cut prices 11 percent from record highs and ending a brief rally following President Bush&#39;s US election victory.
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CARACAS -- The Organization of Petroleum Exporting Countries, which pumps 40 percent of the world's oil, will address possible oil output reductions when members meet in Nigeria Dec. 14, Rafael Ramirez, Venezuela's oil and energy minister, said yesterday.
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Oil prices ended lower on Tuesday on  signs that high energy costs are slowing the economic growth  that has fueled this year's sharp increase in world oil  consumption.
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The cost of a barrel of oil in London has dipped below $40 as energy prices have continued to slide. The price of Brent crude in London fell to a three-week low of $39.
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Oil prices fell to four-month lows on Friday even though the Organization of Petroleum Exporting Countries moved to curb production above its official 27 million barrel-per-day output ceiling.
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NEW YORK, November 4  - Crude oil prices declined today to their lowest levels in more than one month, after rising early this morning and yesterday on news of George Bushâs re-election as the US President.
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OPEC ministers said Thursday that they were considering curbing output and taking some oil off the market to prevent a price slump.
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Oil prices continued to sink on Thursday as supply worries eased further on hopes that a tentative peace deal with Iraqi Shi&#39;ite fighters will decrease the threat of disruption to the country&#39;s revived oil exports.
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Oil prices eased yesterday as top world exporter Saudi Arabia slashed prices for its westbound crude sales in an effort to shift the large volumes it is offering to cool world markets.
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Oil prices fell below $48 a barrel as tensions between US forces and rebel fighters in Iraq eased, raising hopes that attacks against the country&#39;s oil infrastructure would subside. US light crude for September delivery settled at $47.86 on the New York ...