OPEC to Put Formal Lifting of Output on the Table
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Oil ministers are meeting to consider raising the formal output ceiling as crude prices remain stubbornly high despite OPEC's persistent efforts to lower them.
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OPEC is pumping near flat out in a bid to drag down oil prices but will not rubber-stamp all its extra output with a big increase in formal supply
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OPEC oil producers on Friday agreed to  stamp out excess supply that has lowered world prices from  record highs.
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OPEC ministers yesterday agreed to increase their ceiling for oil production to help bring down stubbornly high prices in a decision that traders and analysts
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THE Organisation of Petroleum Exporting Countries (OPEC) is hiking its official output by one million barrels per day effective November with Nigeria getting 82,000 barrels per day or 8.2 per cent of the new quota.
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TEHRAN/LONDON  - OPEC officials lined up to say the exporter group could do little to tame oil prices that hit $100 a barrel for the first time on Wednesday and world markets had enough crude oil.
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OPEC oil producers meeting here this week are likely to clamp down on excess supply has that helped lower prices from record highs and will discuss how much to raise their price target, cartel officials said yesterday.
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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, a senior OPEC  delegate said on Thursday, sending oil prices up nearly $1.50.
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SYDNEY (Dow Jones)--OPEC should reaffirm its willingness to increase oil production when it meets next month and give a clear commitment to boosting production capacity, the head of the International
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Opec ministers gather this weekend to set oil production levels, as traders watch the outcome of the Iraq election and other factors affecting the oil supply.
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Major Gulf producer Kuwait will back  a hike of 1 million barrels per day in OPEC's output ceiling if  oil prices stay at record levels, a move that would bring  formal production limits in line with actual supplies.
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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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NEW YORK, September 15 (New Ratings) - The core Gulf members of the Organization of Petroleum Exporting Countries (OPEC) have reportedly recommended that the cartel&#39;s official output quota be boosted by 4%, or one million barrels per day.
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VIENNA: 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 yesterday.
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Oil cartel Opec said yesterday it would increase its official output by 1m barrels of oil a day from November, but oil prices still rose as the cartel noted it was already pumping more than it should.
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The Organization of Petroleum Exporting Countries (OPEC) says it is doing everything it can to stabilize oil prices. The reality, however, is that
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The Organization of Petroleum Exporting Countries, which supplies a third of the world&#39;s crude oil, can raise production capacity by 1 million barrels a day by year-end, OPEC President Purnomo Yusgiantoro said.