Oil Prices Fall Despite OPEC Output Cut
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Oil prices fell to four-month lows on Friday even though the Organization of Petroleum Exporting Countries moved to curb production above its official 27 million barrel-per-day output ceiling.
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Oil fell to $90 a barrel on Monday, as weaker global stock markets spurred profit taking, although expectations that OPEC will resist pressure to raise output this week limited deeper losses.
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Oil fell back toward $62 on Friday after   OPEC member Nigeria appeared to be alone in its decision to   trim output to stem a two-month price slide.
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Oil prices fell on Monday, extending the  previous session&#39;s decline, after remarks by oil producer group  OPEC that it was concerned about the potential impact of high  oil prices on the global economy.
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Oil steadied above $61 a barrel on   Tuesday as producer group OPEC kindled fears of production   cuts, saying oil's recent slide from record peaks had brought   prices too low.
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Oil prices dipped below $62 on Monday, extending last week's losses, as concern over brimming global fuel inventories offset a likely second OPEC supply cut and news of deepening Saudi export curbs.
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Oil fell below $60 on Friday as investors doubted OPEC's resolve to carry out a planned supply cut and fuel inventories swelled in top consumer the United States.
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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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Oil prices dropped yesterday as traders apparently shrugged off worries about whether production cuts by two key producing nations were harbingers of further restrictions by OPEC members.
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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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Oil prices fall as it emerges that supply from Iraq will not be affected by a bomb blast and Opec's  members are already producing more oil.
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Oil dropped $1 on Monday as OPEC looked   set to keep pumping at high rates to ensure world consumers   were well-supplied despite a 20 percent fall in prices since   mid-July.
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Oil prices dip below $62 a barrel amid mixed signals over the possibility of further production cuts.
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Oil prices fell on Monday, on expectations of higher U.S. refinery production and after remarks by OPEC that it is ready to pump more oil if needed.
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Oil prices tumbled on Monday after OPEC producers agreed to keep crude output unchanged for now and Iraq's elections passed without disruption to oil exports.
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OPEC will keep its oil output near a 25-year high despite a $13 fall in the crude price since mid-July, ministers said on Monday, but the group left the door open to a supply cut before the end of the year.
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OPEC will cut back on oil production early next year in a bid to stave off a further decline in the world price, Kuwait's oil minister said yesterday.