MARKETS PUT OPEC TO &#39;TEST&#39;; OIL PRICES TUMBLE AS DOUBTS LINGER ...
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OPEC oil producers yesterday said they had already moved to rein in excess supply, a day after doubts over the group&#39;s resolve sent prices into a tailspin.
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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' oil revenue and ministers will take up the issue when they meet next week to discuss new output curbs.
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Oil prices slid on Monday after OPEC  members signaled the cartel could wait until its mid-March  meeting to make any production cuts.
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Oil prices fell Tuesday after losing nearly $2 a barrel the day before amid easing concerns about the possibility of more production cuts by OPEC members.
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Oil prices steadied Friday, after  Thursday's 5 percent surge, as OPEC producers signaled their  readiness to defend prices by cutting global supply.
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Cartel may act to stem crude price slide; Nigeria unrest, attack on US consulate also weigh. SINGAPORE  - World oil prices bounced from a three-month low Monday as traders looked for OPEC to take
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Oil fell below $60 on Friday as investors doubted OPEC's resolve to carry out a planned supply cut and fuel inventories swelled in top consumer the United States.
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Oil fell to $90 a barrel on Monday, as weaker global stock markets spurred profit taking, although expectations that OPEC will resist pressure to raise output this week limited deeper losses.
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Oil prices took time out on Friday from this week&#39;s succession of record highs, but anxiety over outages in the US Gulf, Nigeria and Norway in the run-up to winter left little hope of relief for consumers.
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Oil prices steadied on Friday after a  five percent surge on Thursday as OPEC producers signaled their  readiness to support prices by cutting supply.
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Oil prices continue falling on comments from Opec that suggest increasing supply is a possibility.
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OPEC oil producers on Saturday said they  had already moved to rein in excess supply, a day after doubts  over the group's resolve to cut sent prices into a tailspin.
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As OPEC&#39;s leaders prepare to discuss oil price and output targets amid strong demand, analysts wonder if the cartel&#39;s influence has waned at a time when producers outside the
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Oil prices fell on Monday after OPEC   agreed to keep pumping at high rates to ensure world consumers   were well-supplied despite a 20 percent slide in prices since   mid-July.
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Oil prices dropped yesterday as traders apparently shrugged off worries about whether production cuts by two key producing nations were harbingers of further restrictions by OPEC members.
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OPEC oil producers on Saturday said they had already moved to rein in excess supply, a day after doubts over the group's resolve to cut sent prices into a tailspin.
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Oil dropped more than two dollars on Friday, weakened by selling in equity markets that raised doubts over energy demand and after a storm that halted exports from Oman lost power.