Irrelevant? OPEC Is Sitting Pretty.
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OPEC's hold on the oil market, and thus on the world economy, looks set to grow sharply in the coming decades, with profound economic and geopolitical implications.
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It looks like OPEC wants to have its cake and eat it too.
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Anglo-Dutch oil major just about trumps its rival BP with third quarter earnings, but shares are largely flat.
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US light crude jumps back above $42 a barrel as cartel prepares to meet to debate output. CAIRO  - Oil prices rose Thursday as OPEC producers debated whether the recent tumble in prices was severe
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Crude oil was little changed after rallying more than 2 percent yesterday when US President George W. Bush&#39;s re-election signaled the government probably will continue its policy of buying oil for a national reserve.
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Raise prices. Ease production. For weeks ahead of this week'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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The downturn is no reason to turn your nose up at this stock.
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The Organization of Petroleum Exporting Countries, OPEC, will maintain the oil prices reference band unchanged in the coming meeting scheduled for September 15 in Vienna, said Purnomo Yusgiantoro, OPECâs president.
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OPEC producers can agree on one thing: High crude oil prices are not their fault. But on Tuesday there were indications that leading members of the oil cartel were looking
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LONDON, NOVEMBER 29: Opec will not consider switching from dollar-denominated oil sales despite the decline in the value of the US currency, the oil minister for the worldâs leading crude producer Saudi Arabia said.
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Oil prices are rising as hopes of a rise in production from next week's Opec meeting dwindle.
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Oil steadied above $62 on Friday,   supported by signals that some OPEC producers may trim output   to stem a price decline caused by ample U.S. inventories.
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Oil prices ease slightly, despite expectations producers cartel Opec will not unveil a rise in supplies.
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Here's a way to benefit from an increase in the global demand for oil.
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OPEC ministers are increasingly convinced that current high prices are not hurting global economic growth.
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OPEC may be considering cutting its production to stem the recent steep decline in oil prices.
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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.