OPEC ministers unfazed by oil price drop after output cut
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CAIRO  - OPEC ministers played down the significance of an indifferent market reaction to their output cut to shore-up sliding oil prices, insisting that prices would climb again next week.
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OPEC ministers have agreed to cut back crude oil production by 1 million barrels a day in an effort to halt a decline in oil prices.
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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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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' oil revenue and ministers will take up the issue when they meet next week to discuss a further cut in output.
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OPEC ministers are considering curbing their production and taking some oil off the market to prevent a slump in prices as demand slows next year.
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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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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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OPEC yesterday agreed to cut oil production by about 4 percent in an effort to prop up falling prices. The Organization of the Petroleum Exporting Countries acted after several months of high
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OPEC oil producers said on 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.
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OPEC, producer of more than a third of the world&#39;s oil, agreed to cut output by about 4 percent to end the biggest six-week drop in prices since demand collapsed after the September 2001 attacks on the US.
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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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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.
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OPEC oil producers said on Thursday that Friday&#39;s ministerial meeting would focus on cutting back oversupply to support falling prices and that producers
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After pumping oil at close to full capacity for several months in a bid to bring prices down from record levels, OPEC ministers said Thursday that they were considering curbing
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OPEC oil producers said on Thursday that  Friday's ministerial meeting would focus on halting oversupply  to bolster falling prices and that the cartel would have to  reduce output quotas early next year.
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ABUJA/LONDON  - OPEC President Nigeria called on its fellow OPEC countries to make deeper output cuts on Tuesday as prices tumbled to an 8-month low below $59 a barrel and the tide showed no sign of turning.
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OPEC, the producer of more than a third of the world&#39;s oil, expects prices will recover from their second-largest drop this year as nations enforce yesterday&#39;s decision to lower output, ministers said.