Itâs hard to predict oil prices: OPEC
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Increased demand in India and China is affecting oil prices, but &quot;non-fundamental&quot; factors make it hard to forecast which side of the $45 per barrel mark they will head, OPECâs President said on Tuesday.
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A Goldman Sachs  projection that  oil prices could top &#36;100 a barrel in the event of a major  supply disruption could be conservative in the current tight  market, said a senior executive with the investment bank.
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The world&#39;s major stock markets tried hard this week to ignore the proverbial elephant at the table -- record high oil prices -- but it is getting harder and harder to do so.
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LONDON, NOVEMBER 29: Opec will not consider switching from dollar-denominated oil sales despite the decline in the value of the US currency, the oil minister for the worldâs leading crude producer Saudi Arabia said.
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OPEC can do nothing to douse scorching  oil prices when markets are already oversupplied by 2.8 million  barrels per day (bpd) of crude, Iran's OPEC governor said  Saturday, warning that prices could fall sharply.
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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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Indonesia is likely to ask the Organization of Petroleum Exporting Countries (OPEC) during its scheduled meeting later this week to revise upward its crude oil price band so
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VIENNA: Opec is keeping its foot to the pedal on oil production in a bid to push crude prices back below $US40 ($NZ62) a barrel. Risking a counter-seasonal fourth quarter build in stocks, Saudi Arabia will
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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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Oil prices may have peaked last month as OPEC and other countries boosted production and record high prices restrained demand, said the International Energy Agency, an adviser to 26 nations.
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The president of the Organization of Petroleum Exporting Countries, Purnomo Yusgiantoro, said global political uncertainties and concerns likely account for US$10 to $15 per barrel, or up to one third, of current world oil prices.
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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.
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Vienna: OPEC plans to adjust its price band before the end of the year, although not in order to stabilise the market as it claims but to justify sky-high oil prices, analysts say.
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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 President Purnomo Yusgiantoro said  on Friday he was concerned with the continuing rise in global  oil prices, but the cartel had not yet seen a cost-driven  increase in inflation.
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OPEC will consider raising its average price band at a meeting next week, but has forecast crude prices to fall by up to a third once elections in the US and Iraq are completed.
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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.