Oil Falls as OPEC Cut Fears Fade
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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 fell by more than a dollar on  Friday as OPEC looked set to keep output unchanged at its  meeting this weekend and on forecasts for warmer weather in the  U.S. Northeast next week.
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Crude oil prices fell Thursday after the Organization of Petroleum Exporting Countries (OPEC) lowered its forecasts for growth in global demand this year and next.
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OPEC on Monday said the world oil market shows signs of weakening in 2007 as economic growth slows, a problem the exporter group seeks to address through its decision last week to cut supply.
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Oil prices eased on Tuesday as fears of  supply disruptions in Venezuela and Russia receded following a  convincing referendum victory for Venezuelan President Hugo  Chavez and after Russia's YUKOS said it had received an  assurance on September exports.
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Oil prices slid on Monday, drifting  toward $90 a barrel as a weak close on Wall Street spurred some  profit taking, although expectations that OPEC will maintain  its production curbs this week limited losses.
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The price of oil has fallen as fears about interruptions to supplies being pumped out of Iraq eased slightly.
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Oil prices slid on Monday, drifting toward $90 a barrel as a weak close on Wall Street spurred some profit taking, although expectations that OPEC will maintain its production curbs this week limited losses.
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Oil prices eased on Monday as speculative funds continued to take profits but a tight global supply picture stopped the selling from gaining much momentum.
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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 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 prices fell on Tuesday as milder  weather in the immediate term quelled concerns about thin fuel  stocks, though the market remained nervous about possible  supply disruption in the Middle East and Russia.
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Oil prices fell on Friday as traders   questioned whether planned output cuts by OPEC members Nigeria   and Venezuela would be enough to stem a two-month slide in   prices.
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Oil prices eased on Tuesday as fears of  supply disruptions receded following a convincing referendum  victory in Venezuela for President Hugo Chavez and after  Russia's YUKOS said it had received a government assurance on  September exports.
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Opec looks set to agree a cut in the rampant quota-busting, which its members say has caused oil prices to fall in recent months.
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Oil fell below $60 on Friday, reversing course from the previous day as traders weighed OPEC's plans to cut production by 1 million barrels per day (bpd) against overflowing stockpiles.
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LONDON -- Oil prices fell but held above $61 a barrel yesterday as the market awaited OPEC's decision this week on whether to make further production cuts to shore up prices.