EU Official Plays Down Rising Oil Prices
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A top European Union economic official Friday played down the impact of rising oil prices on the bloc's economic recovery.
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The Prime Minister Lawrence Gonzi stated that oil prices might influence his decision making for the Budget 2005.
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Oil prices are rising as hopes of a rise in production from next week's Opec meeting dwindle.
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WASHINGTON - Oil prices are likely to fall at least another $10 a barrel by next year, a top Energy Department official said yesterday, but he warned gasoline and heating oil prices will continue to rise in coming weeks.
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HAMISH ROBERTSON: Ministers from the countries that make up the oil producing cartel - OPEC â-ave taken action overnight to stop the fall in oil prices.
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FRANKFURT  - European Central Bank President Jean-Claude Trichet warned that persistent high oil prices could dampen the strength of the economic recovery in the eurozone.
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Dutch Foreign Minister Bernard Bot has been trying to defuse a row over a European Union statement on Russia&#39;s handling of the Beslan hostage crisis.
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Dutch Foreign Minister Bernard Bot tries to defuse a row over a EU statement on Russia's handling of the hostage crisis.
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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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Oil futures prices rose in Europe Thursday amid concerns about heating oil supplies at the beginning of the Northern Hemisphere winter.
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BRUSSELS The European Union&#39;s executive arm issued a bleak economic report on Tuesday, warning that the sharp rise in oil prices would &quot;take its toll&quot; on economic growth next year while the euro&#39;s renewed climb could threaten exports.
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Global oil prices are set to cool although not rapidly and not to levels seen in the 1990s, the Organisation for Economic Cooperation and Development (OECD) says.
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VIENNA  - There is no need to put more oil on the market as it is well-supplied, Iranian Oil Minister Bijan Namdar Zangeneh said here on Tuesday on the eve of an OPEC meeting.
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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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BRUSSELS The European Central Bank warned Thursday that the soaring price of oil had hurt prospects for economic recovery in the euro zone.
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The high level of oil prices is posing a risk for the European economic recovery, European Union industry lobby group UNICE said.
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European equities clung to three-week  highs on Friday as oil steadied around the $43 a barrel mark.