OPEC to monitor impact of US election on oil prices
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JAKARTA: OPEC president Purnomo Yusgiantoro said Thursday the cartel would monitor any impact from the re-election of US President George W. Bush on oil prices.
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Oil prices eased but held over $76 on Monday, as expectations OPEC will maintain supply curbs on Tuesday countered weak U.S. jobs data that raised concerns of a recession in the world's top consumer.
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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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LONDON  - Oil prices continued their retreat, dipping below 50 dollars in New York as Americans voted in a presidential election expected to send ripples through oil markets.
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VIENNA: Opec is keeping its foot to the pedal on oil production in a bid to push crude prices back below $US40 ($NZ62) a barrel. Risking a counter-seasonal fourth quarter build in stocks, Saudi Arabia will
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Oil prices held below $50 on Wednesday as a fresh jump in US crude oil inventories tempered the impact of President George W. Bush&#39;s move towards victory in the US election.
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Oil prices eased on Friday as OPEC looked set to keep output unchanged at its meeting this weekend, although concern ahead of Sunday's election in Iraq limited the fall.
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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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MARK COLVIN: The president of the world&#39;s most influential oil cartel, OPEC, confirmed today that oil prices were being bumped up by what&#39;s known in the business as a &quot;political premium&quot;.
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Oil prices fell on Wednesday after the  head of producer group OPEC said the market was oversupplied,  outweighing worries that powerful Hurricane Ivan could disrupt  U.S. offshore oil and gas production in the coming days.
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Oil prices rebounded Tuesday on fresh violence in Iraq ahead of elections this month and as Saudi Arabia, OPEC's top producer, said it has followed through with a pledge to cut output.
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Oil prices eased but held over $76 on  Monday, as expectations OPEC will maintain supply curbs on  Tuesday countered weak U.S. jobs data that raised concerns of a  recession in the world&#39;s top consumer.
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Oil prices eased on Friday as OPEC  looked set to keep output unchanged at its meeting this  weekend, although concern ahead of Sunday's election in Iraq  limited the fall.
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World oil prices steadied with prices, underpinned by the US Atlantic hurricane season -- which threatens to damage energy facilities -- and expectations that OPEC will keep its output unchanged at a meeting next week, dealers said Wednesday.
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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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With the US presidential elections approaching, world oil prices appear to be going down. New York&#39;s main contract, light sweet crude for delivery in December, fell 26 cents to 49.
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OPEC sees no reason to change crude output as the nine-month high in oil prices last week was due to U.S. gasoline supply concerns and international political tension, a senior OPEC delegate said on Monday.