OPEC could lift output
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OPEC, which pumps more than a third of the world&#39;s oil, is considering raising its oil-output targets at a meeting this week in Vienna, although that wouldn&#39;t necessarily mean more oil production, the Wall Street Journal
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NEW YORK - Oil and gas futures rose yesterday on expectations the hurricane season will intensify and OPEC won't raise output when it meets next week.
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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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SINGAPORE/LONDON  - Oil rose above $61 on   Wednesday as dealers balanced signs that producer group OPEC   may take action to stem tumbling prices against forecasts for a   rise in U.S. winter fuel stocks.
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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 prices rise amid colder weather in the US and speculation that oil cartel Opec might cut output.
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Saudi Arabia may boost output capacity by 30 percent within two years in order to prevent shortages, the country&#39;s oil minister said.
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OPEC decided at its ministerial meeting here Wednesday to increase its oil production ceiling by 1million barrels a day beginning Nov. 1, but the decision will have little real impact on the high oil prices.
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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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Oil held near a seven-session high above   $63 a barrel on Thursday, supported by investment fund buying   and speculation that OPEC could trim output to bolster prices.
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Oil rose on Thursday after OPEC officials said the producer group will cut output by 1 million barrels per day as soon as possible to prop up prices.
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Oil prices may have peaked last month as OPEC and other countries boosted production and record high prices restrained demand, said the International Energy Agency, an adviser to 26 nations.
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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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VIENNA, Austria -- Raise prices. Ease production. For weeks ahead of this week&#39;s OPEC meeting, hawks in the organization have been talking tough about the need to keep oil revenues high -- and lowering output.
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Opec, the oil producers&#39; cartel, is poised to raise its target price range for a barrel of crude this week - delivering a harsh message to oil-guzzling economies to get used to a $30 floor under prices.
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VIENNA, Austria -- OPEC was deciding Tuesday whether to maintain its production quota or give it a modest and symbolic boost to calm oil markets worried that there may not be enough crude to meet global demand by year's end.
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VIENNA - OPEC sought to reassure jittery oil markets yesterday by agreeing to boost crude production by 500,000 barrels a day - a move the cartel conceded was prompted partly by "clouds on the horizon" from the US housing slump.