OPEC Chief: Concerned with Oil Price Rise
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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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KUWAIT CITY - Opec is considering raising its price band to between 28 and 30 dollars a barrel, Qatar&#39;s Energy Minister said in comments published yesterday, ahead of a crucial meeting of the group.
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OPEC was meeting on Tuesday to consider a Saudi proposal to raise oil output in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing stocks.
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Crude oil prices rose for the second day Thursday as traders worries that the Organization of Petroleum Exporting Countries (OPEC) might trim excess oil output.
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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 President Purnomo Yusgiantoro said on Thursday that OPEC should continue to produce above its official ceiling rather than tighten output to support prices.
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NEW YORK, December 6  - Oil prices increased today on fears of the announcement of an output cut by the OPEC during its meeting scheduled for later this week.
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As OPEC ministers prepare to meet Monday, the question on their minds is not how high oil prices will rise, but how far they may drop.
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Oil prices rose for the second day in a  row on Thursday as several OPEC ministers called for the cartel  to stop producing more oil than its official target.
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OPEC President Edmund Daukoru said on  Saturday he was very concerned by the fall in oil prices and it  presented the exporter group with issues to discuss at its  meeting on Monday.
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OPEC is capable of increasing oil output levels by a further 1.5 million barrels per day to help ease pressure on the market but new supplies may not lower prices, the organisation&#39;s president says.
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World oil prices should remain next year around current levels and OPEC's existing price target band should be raised because it has failed to reflect the market, Venezuela's energy minister said on Sunday.
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LONDON - Oil prices rose for the second day in a row on Thursday as several Opec ministers called for the cartel to stop producing more oil than its official target to prevent a glut next year.
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OIL prices rose from three- month lows yesterday as political unrest overseas renewed concerns about supplies, while some Organisation of Petroleum Exporting Countries members started talking about cutting production to protect their incomes.
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OPEC was meeting on Tuesday to consider a modest rise in oil output proposed by Saudi Arabia and other Gulf Arab states in a gesture to consumers worried by the economic impact of $77 oil and rapidly diminishing stocks.
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Saudi Arabia does not object to OPEC raising the current price band when oil-producing nations meet Sept. 15 and is negotiating the level with other oil-rich Gulf countries, a Saudi oil official said Sunday.
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VIENNA -- High and volatile crude costs may signal ``a new price era," a senior OPEC official said yesterday, insisting that the 11-nation cartel is doing all it can to bring prices down to more reasonable levels.