Oil falls below $77 on OPEC price concerns
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Oil fell below $77 a barrel on Monday as some funds booked profits after OPEC expressed concern over near-record prices and pledged to pump more crude if needed.
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Oil prices slid on Monday, drifting toward $90 a barrel as a weak close on Wall Street spurred some profit taking, although expectations that OPEC will maintain its production curbs this week limited losses.
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Oil prices dipped below $62 on Monday, extending last week's losses, as concern over brimming global fuel inventories offset a likely second OPEC supply cut and news of deepening Saudi export curbs.
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Oil fell below $71 a barrel on Friday, reversing an earlier gain, as restarting oil refinery units in top consumer the United States signaled an increase in gasoline supplies.
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Oil prices steadied below $70 on   Wednesday as dealers weighed tensions over Iran's nuclear   program against robust crude inventories in the United States,   the world's largest energy consumer.
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Oil fell below $60 on Friday, reversing course from the previous day as traders weighed OPEC's plans to cut production by 1 million barrels per day (bpd) against overflowing stockpiles.
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Oil tumbled $2 on Tuesday to below $60 a barrel, sinking to the lowest level since February and prompting OPEC's president to call on the exporter group to deepen supply cuts.
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Oil dropped nearly 3.5 percent to below $58 on Monday as OPEC members including Saudi Arabia signaled the group would probably keep output stable when it meets in March and as U.S. winter supply concerns eased.
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Oil prices fell for a third day on Tuesday on expectations of rising fuel stockpiles in the United States and after OPEC vowed to pump more crude if needed.
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Oil prices turned lower Monday as traders apparently shrugged off worries about whether production cuts by two key producing nations were harbingers of further restrictions by OPEC members.
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Oil prices held just below $48 a  barrel on Tuesday, as the market remained nervous that OPEC  producers may cut supplies before the end of the first quarter.
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Oil prices tumbled below $47 on  Monday after OPEC producers agreed to keep crude output  unchanged for now and Iraq's elections passed without  disruption to oil exports.
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DOHA - Opec producers are enjoying less of a windfall than US$50 ($70) oil prices suggest, as big discounts for their lower-quality crude and a weak dollar hit export earnings, Opec officials say.
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U.S. oil prices fell below $43 on  Monday on continued profit-taking as producer-group OPEC eyed  increases in the coming months in its tight spare capacity,  countering worries over stumbling Iraqi oil exports.
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Oil extended losses for the seventh   consecutive session on Tuesday, retreating toward $65 a barrel,   after Iran sounded a softer note on its atomic program and OPEC   agreed to keep production steady for now.
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Oil prices eased but held over $76 on  Monday, as expectations OPEC will maintain supply curbs on  Tuesday countered weak U.S. jobs data that raised concerns of a  recession in the world&#39;s top consumer.
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With crude oil prices drifting down to as low as $ 41 per barrel, OPEC is expected by many observers to slash production, when it meets on Friday.