OPEC Ponders Measures to Defend Oil Price
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OPEC oil producers meeting on Sunday are  debating what advance measures they can put in place to head  off a potential price drop after the northern winter, cartel  ministers said on Saturday.
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As OPEC&#39;s leaders prepare to discuss oil price and output targets amid strong demand, analysts wonder if the cartel&#39;s influence has waned at a time when producers outside the
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VIENNA, Austria -- 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.
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After pumping oil at close to full capacity for several months in a bid to bring prices down from record levels, OPEC ministers said Thursday that they were considering curbing
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Oil fell towards $77 a barrel on Monday after OPEC expressed concern over near record prices and said it was prepared to pump more crude if needed.
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All options, including cutting quotas, are up for discussion when OPEC ministers meet in Cairo this week to plan their response to a sharp fall in prices
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OPEC, the producer of 40 percent of the world's oil, is considering its second production cut in three months to prevent a price drop early next year.
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Oil steadied above $62 on Friday,   supported by signals that some OPEC producers may trim output   to stem a price decline caused by ample U.S. inventories.
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The Organization of Petroleum Exporting Countries (OPEC) expects to see a fall in global oil prices to as much as US$30 per barrel, its president Purnomo Yusgiantoro said here on Thursday.
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OPEC was considering on Thursday delaying an oil output cut until the northern winter has passed, responding to the calls of importer nations' afraid supply curbs now will drive prices higher and hurt their economies.
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OPEC may soon have to curtail output to end a six-week slide in prices and prevent inventories from increasing, officials from Libya and Indonesia said.
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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' purchasing power and ministers will take up the issue when they meet next week to discuss new output curbs.
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: The OPEC price band for crude oil should be raised to reflect inflation since 2001 and the falling US dollar, Purnomo Yusgiantoro, Indonesia&#39;s oil minister and secretary general of the Organization of Petroleum Exporting Countries
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Oil prices held firm above &#36;47 a barrel as worries about a possible cut to OPEC production curbed fears of a slowdown in second-quarter demand.
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Saudi Arabian Oil Minister Ali al-Naimi Wednesday questioned the need for OPEC oil producers to rein in oil supply, saying the cartel&#39;s reference crude price was still above its official target despite steep recent falls.
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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 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.