Oil Rises on OPEC Cut Talk, Saudi Attack
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World oil prices ticked up from a  three-month low on Monday as traders looked for OPEC to take  action to stem a slide which knocked 14 percent off crude  prices last week.
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Oil prices increased on Monday for the first time in a week, reaching $43 a barrel after the US consulate in Saudi Arabia was attacked, and amid growing concerns that OPEC may try to stabilize oil prices after last week&#39;s sharp sell off.
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Crude oil futures rose above $41 a barrel yesterday as traders focused on OPEC's planned production cutback and colder weather in the United States.
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VIENNA, Austria -- Oil prices rose above $62 a barrel Thursday as OPEC delegates said they had agreed in principle to leave production unchanged for now but set the stage for a likely cut of half a million barrels a day in February.
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Oil prices rebounded Tuesday on fresh violence in Iraq ahead of elections this month and as Saudi Arabia, OPEC's top producer, said it has followed through with a pledge to cut output.
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Oil prices rose for a second day on Wednesday after blasts were heard in Saudi Arabia&#39;s capital and after the US government reported another decline in lean winter heating fuel stocks.
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The possibility of a cut in OPEC production grew stronger yesterday after the oil minister of Saudi Arabia indicated he was aware of majority sentiment in favor of a reduction.
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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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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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Oil rose nearly $1 to above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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World oil prices rose on Thursday as OPEC ministers gathering in Cairo raised the prospect of cutting output. New York&#39;s main contract, light sweet crude for delivery in January, climbed 59 cents to 42.53 dollars a barrel.
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OPEC will take one million barrels of oil a day off oversupplied world markets as soon as possible with its first output cut in more than two years, OPEC officials said on Thursday, sending oil prices $1.50 higher.
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Oil rose toward $62 a barrel on   Tuesday as producer group OPEC kindled fears of production   cuts, saying oil's steep slide from record peaks had brought   prices too low.
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Prices of crude oil on the world market will go up after the Organization of Petroleum Exporting Countries (OPEC) decided Friday to cut oil production by1 million barrels a day, said a Mexican analyst on Sunday.
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Oil climbed above $91 on Tuesday as stock markets rose on hopes of a fresh U.S. interest rate cut, with forecasts there will be a draw in U.S. distillate stocks and no change in OPEC output offering additional support.
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Oil prices rise on speculation that producer cartel Opec may unveil  cuts in output at its December meeting.
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Oil prices climb after a report shows a bigger drop than expected in US oil stocks, a day before a crucial Opec meeting.