OPEC to Meet Jan 30 Despite Iraq Request
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OPEC oil ministers will meet on January 30 as scheduled despite a request from Iraq to move the date of the meeting to avoid a clash with the Iraqi elections, an OPEC spokesman said on Wednesday.
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OPEC is discussing an oil output cut of up to 500,000 barrels per day, delayed until February1 when the northern winter is ending, delegates said on Thursday.
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World oil prices should remain next year around current levels and OPEC&#39;s existing price target band should be raised because it has failed to reflect the market, Venezuela&#39;s energy minister said on Sunday.
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OPEC is widely expected to resist consumer calls for more oil when it meets on Friday, worried by a slowing U.S. economy and the onset of seasonally lower demand in the spring.
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Middle East producer Kuwait has told key crude oil lifters in Asia that it will supply full contract volumes in January despite OPEC&#39;s latest agreement to curb excess supplies, traders said on Tuesday.
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OPEC sees no reason to change crude output as the nine-month high in oil prices last week was due to U.S. gasoline supply concerns and international political tension, a senior OPEC delegate said on Monday.
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OPEC on Thursday prepared to leave oil  supply quotas unchanged and keep pumping at full capacity,  rejecting a push for a production cut by host Venezuela, the  cartel&#039;s leading price hawk.
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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.
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The Organization of Petroleum Exporting Countries (OPEC) is likely to keep production close to a 25-year high to prevent shortages during the US winter, OPEC officials said.
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OPEC is united on the need to raise its oil price target to an average $30 a barrel, but the cartel has yet to agree on when to implement the higher level, a top Iranian oil official said on Thursday.
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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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The Organization of the Petroleum   Exporting Countries has no plan to hold a meeting before its   scheduled conference in December, an OPEC official said on   Friday.
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Oil held above $75 a barrel on Wednesday, as traders awaited data that is expected to show U.S. crude stocks fell last week and an OPEC meeting next week where supply is likely to remain unchanged.
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OPEC, the source of more than a third of the world&#39;s oil, will discuss raising its output target by as much as 3.8 percent at a meeting today in a bid to lower near-record prices, officials said.
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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.
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The Organization of Petroleum Exporting Countries (OPEC) expects to find a solution with non-OPEC members and oil companies to jointly stabilize oil prices at their meeting next month, OPEC president Purnomo Yusgiantoro said.
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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.