OPEC has no plan to meet before Dec, official says
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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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OPEC President Edmund Daukoru has said that the international oil cartel might hold an emergency meeting to consider cutting production.
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JAKARTA: Opec wants a faster retreat in oil prices and will discuss whether to raise its official oil output ceiling at its September 15 meeting, cartel president Purnomo Yusgiantoro said on Thursday.
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OPEC was considering on Thursday delaying an oil output cut until the northern winter has passed, responding to the calls of importer nations' afraid supply curbs now will drive prices higher and hurt their economies.
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The high price of oil will continue until the end of March 2008, the president of OPEC said Saturday.
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OPEC is unlikely to change production at  its meeting this month and, due to high prices, is likely to  continue supplying the market more than demand, Iran's OPEC  governor Hossein Kazempour Ardebili said on Saturday.
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All options, including cutting quotas,  are up for discussion when OPEC ministers meet in Cairo this  week to plan their response to a sharp fall in prices, Iran's  Oil Minister Bijan Zanganeh said Monday.
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Oil prices slid on Monday after OPEC  members signaled the cartel could wait until its mid-March  meeting to make any production cuts.
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Opec oil producers recommend no change in output quotas ahead of Sunday's meeting in Austria.
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OPEC met on Monday against the backdrop   of a $13 fall in the oil price since mid-July but ministers   said they were unlikely to tamper with output ahead of peak   winter demand and with supply worries ever present.
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When asked if OPEC will discuss a possible cut in output in the second quarter of 2005 at its meeting next month in Cairo, OPEC President Purnomo Yusgiantoro said: &quot;We do not know yet.
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LONDON - 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 yesterday.
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Top oil exporter Saudi Arabia said on  Friday it was too early to consider whether the OPEC producers'  cartel would cut official production limits when ministers meet  at the end of January.
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Saudi Crown Prince Abd Allah bin Abd al-Aziz will not attend the forthcoming Gulf Cooperation Council summit in Bahrain amid growing intra-Gulf differences on free trade, according to officials.
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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.
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U.S. oil prices fell to a one-month low  below $45 a barrel on Tuesday, under pressure from signs OPEC  would not cut production until its March meeting and on  forecasts of rising U.S. crude stockpiles.
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OPEC president and Kuwait's energy minister said on Saturday he saw no need now for telephone consultations between members of the cartel over a possible oil output cut ahead of its next meeting in March.