OPEC sends conflicting signal on need for deeper cut
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OPEC ministers sent conflicting signals on Saturday on whether the group needed to reduce oil production further to bring markets back into equilibrium.
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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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No. 1 exporter pledges to hold production levels but is wary of boosting quotas and glutting market. VIENNA  - OPEC is keeping its foot on the production pedal in a bid to drag down oil prices, but
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OPEC may resist calls to raise oil  output quotas much, if at all, when it meets this week for fear  of turning a decline from record prices into a rout.
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Increased demand in India and China is affecting oil prices, but &quot;non-fundamental&quot; factors make it hard to forecast which side of the $45 per barrel mark they will head, OPECâs President said on Tuesday.
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OPEC may soon have to curtail output to end a six-week slide in prices and prevent inventories from increasing, officials from Libya and Indonesia said.
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The Organization of the Petroleum Exporting Countries (OPEC) has agreed informally on the need to cut output by at least 1 million barrels a day (bpd) to keep the price of its crudes above $50-$55, the Financial Times reported on Thursday without naming sources.
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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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OPEC could be shutting off the spigot on Wall Street's recent record setting rally as a production cut by the cartel has oil prices shooting higher and stocks looking at a difficult open.
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: Oil prices searched for direction today, supported by worries of a cold snap in the Western Hemisphere but weakened by selling on the bet that OPEC&#39;s decision to cut production would not end short-term oversupply.
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OPEC was meeting on Tuesday to consider  a modest rise in oil output proposed by Saudi Arabia and other  Gulf Arab states in a gesture to consumers worried by the  economic impact of $77 oil and rapidly diminishing stocks.
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OPEC was considering on Thursday delaying an oil output cut until the northern winter has passed, responding to the calls of importer nations' afraid supply curbs now will drive prices higher and hurt their economies.
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Opec looks set to agree a cut in the rampant quota-busting, which its members say has caused oil prices to fall in recent months.
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ABUJA/LONDON  - OPEC President Nigeria called on its fellow OPEC countries to make deeper output cuts on Tuesday as prices tumbled to an 8-month low below $59 a barrel and the tide showed no sign of turning.
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NEW YORK - Oil's record rally stalled yesterday after an OPEC minister said the group could not rule out another output hike and may call an early formal meeting next month in Saudi Arabia.
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OPEC meets on Thursday to set oil output policy through winter, under pressure from importing nations to steer away from an immediate cut that risks pushing up prices and damaging economic growth.
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OPEC meets on Thursday to set oil output policy through winter, under pressure from importing nations to steer away from a further cut that risks pushing up prices and damaging economic growth.