Amid the Slide, OPEC Holds Steady
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The recent fall in crude prices won&#39;t affect policy, say group officials. But the second quarter may be a different story. The early December plunge in oil prices has been dizzying.
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Oil prices fall after producers' cartel Opec agrees to keep output steady at a meeting in Abu Dhabi.
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LONDON - Despite a recent plunge in oil prices, Opec producers appear to be in no rush to cut output quotas and markets expect the taps to be left wide open when ministers meet in Cairo this week.
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Oil prices held just below &#36;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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OPEC is keeping its foot to the pedal on production in a bid to drag down oil prices but may be reluctant to rubber-stamp extra supplies by lifting official output limits, Saudi Arabia said on Tuesday.
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Oil prices held steady on Tuesday  after falling 2 percent a day earlier and were set for further  falls in anticipation of higher U.S. crude stocks despite  concerns over disruptions to Iraqi oil flow.
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Oil held steady on Friday, hovering at about $99 a barrel, after falling the day before as traders took profits from a record rally that propelled crude prices to over $100 a barrel.
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VIENNA -- A wary OPEC said yesterday it will keep pumping crude at current levels, while also making it clear it would consider trimming production if oil prices keep plummeting.
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Oil steadied above $65 a barrel on   Tuesday, taking a breather from a six-day retreat 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 held steady near $47 a  barrel on Wednesday, a day after setting another record when  the U.S. government said inflation has stayed in check despite  rising energy costs. Weekly data expected to show a drop in  U.S. crude inventories also helped support prices.
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Oil prices held steady on Tuesday after falling 2 percent a day earlier and were set for further falls in anticipation of higher U.S. crude stocks despite concerns over disruptions to Iraqi oil flow.
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OPEC on Friday prepared to keep oil  supply limits on hold, confident that the world economy can  absorb higher energy costs.
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Oil deepened its three-month slide, closing in on $58 a barrel, due to expectations of a rise in brimming U.S. fuel stockpiles and in the absence of more supply cuts by OPEC members.
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Oil prices held steady on Wednesday as  the U.S. government reported a rise in crude and gasoline  stocks but tensions simmered in the Middle East following the  killing of Lebanon's former Prime Minister.
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Oil prices ease slightly, despite expectations producers cartel Opec will not unveil a rise in supplies.
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WASHINGTON -- Oil prices were steady yesterday as traders weighed forecasts calling for mild US weather next week against anticipated further cuts by OPEC.
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Oil held steady on Friday, hovering at about $99 a barrel, after falling the day before as traders took profits from a record rally that saw crude prices spike to over $100 a barrel.