OPEC Warns Oil Supply Cuts Needed for 2005
557282
OPEC oil producers said Thursday that Friday's ministerial meeting would rein in oversupply to bolster falling prices and that the cartel would have to reduce output quotas early next year.
406133
VIENNA, Austria -- OPEC kept its official production target steady on Monday but left open the possibility of an output cut later this year with a promise to "vigilantly" monitor market conditions that have driven oil prices to five-month lows.
164151
ABUJA, Nigeria  -- With oil prices recently dipping to seven-month lows, OPEC's president said Thursday that the group is considering an emergency meeting to discuss the possibility of cutting output.
52863
OPEC oil producers on Thursday weighed up  whether heavy recent price falls were severe enough to warrant  cutting back excess supply at Friday's ministerial meeting.
226824
OPEC hinted that it was ready to cut production, as some delegates voiced concerns over a possible plunge in prices.
535721
Iran could scrap a plan to ration petrol that was expected to have a profound impact on the economy of OPEC&#39;s number two oil producer, the head of parliament&#39;s energy committee said on Sunday.
90404
Energy Secretary Vince Perez Thursday called on oil companies to reduce oil prices in two weeks&#39; time following a decision by the Organization of Oil Exporting Countries (OPEC) to raise its supply quota by 1 million barrels a day.
411502
OPEC will take one million barrels of oil  a day off oversupplied world markets as soon as possible with  its first output cut in more than two years, a senior OPEC  delegate said on Thursday, sending oil prices up nearly $1.50.
234178
The International Monetary Fund (IMF) yesterday cut its 2005 outlook and warned that the high price of oil threatened to curb global economic growth, which it said would be the strongest this year for almost 30 years.
345037
OPEC has taken the unprecedented step  of urging the United States to tap its emergency crude reserves  to bring down world oil prices.
303187
Oil prices continue falling on comments from Opec that suggest increasing supply is a possibility.
165465
The Organization of the Petroleum Exporting Countries (OPEC) has agreed informally on the need to cut output by at least 1 million barrels a day (bpd) to keep the price of its crudes above $50-$55, the Financial Times reported on Thursday without naming sources.
263679
OPEC has agreed an oil output cut of 500,000 barrels per day, or two percent, delayed until February1 when the northern winter is ending, Qatar's oil minister said on Thursday, sending oil prices more than a dollar higher.
477782
DUBAI/ABUJA  - OPEC will take one million barrels of oil a day off oversupplied world markets as soon as possible with its first output cut in more than two years, OPEC officials said on Thursday, sending oil prices back above $60.
221434
OPEC appeared willing on Wednesday to  pull back from more oil output cuts, responding to consumer  nation calls to hold off until winter has passed to guard  against price spikes that would hurt the world economy.
187048
The European Commission cut its growth forecast for 2005, saying record oil prices will damp global demand and warned that five of the 12 countries using the euro will post deficits at or above European limits next year.
167687
Saudi Arabia and other OPEC member states believe the group should cut oil output again to balance markets but others may be reluctant with crude prices firmly above $60, a senior OPEC delegate said on Saturday.