OPEC president says oil supply sufficient
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International oil markets have enough  oil, but a lack of capacity to refine it was contributing to  high prices, OPEC&#39;s president told reporters on Sunday.
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Nigerian Oil Minister and OPEC President Edmund Daukoru has said that he expects the OPEC oil export group to cut its output quota by at least half a million barrels per day when it meets on December 14.
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OPEC is keeping its foot to the pedal on production in a bid to drag down oil prices but may be reluctant to rubber-stamp extra supplies by lifting official output limits, Saudi Arabia said on Tuesday.
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Oil prices will only fall if global conflicts are resolved, the boss of oil prducers&#39; organisation Opec has warned. Opec president Purnomo Yusgiantoro said its members were increasing production to meet high
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Purnomo Yusgiantoro, president of the Organization of Petroleum Exporting Countries (OPEC) said supplies were growing faster than demand, sparking a continue ddecline in oil prices and a sign that petroleum production has remained somewhat stable despite
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OPEC president Purnomo Yusgiantoro said the prediction of declining oil prices in the world markets from September to December this year was also based on the balancing of supply and demand
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Oil ministers of Opec countries say they have the capacity to pump more oil after crude prices hit fresh highs last week.
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OPEC may decide to increase oil output at its February 1 meeting in Vienna if supply is not sufficient, Indonesia's OPEC governor told Reuters on Thursday.
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OPEC will increase oil production by 500,000 barrels a day to meet an expected surge in winter consumption.
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The global oil industry has the capacity to meet future demand, BP's chief executive tells newspapers.
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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 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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Iran will support any OPEC move to bring crude oil prices back to acceptable levels following a recent slide, Iran's OPEC Governor Hossein Kazempour Ardebili said on Sunday.
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The head of the Organization of Petroleum Exporting Countries (OPEC) has called on the United States to release some of its oil reserves to help reduce world oil prices.
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OPEC has stressed its view that high oil prices were a result of speculation and pledged to provide enough crude to calm global markets, while an energy research group warned prices could remain high for some time.
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Opec's president says oil supply is adequate as Brent crude hits a record $46 a barrel and US light crude hovers 4 cents below its all-time record.
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JAKARTA: OPEC president Purnomo Yusgiantoro said Thursday the cartel would monitor any impact from the re-election of US President George W. Bush on oil prices.