OPEC frets over dollar's fall, ponders oil cut
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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 a further cut in output.
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OPEC ministers said Thursday that they were considering curbing output and taking some oil off the market to prevent a price slump.
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Oil fell back toward $62 on Friday after   OPEC member Nigeria appeared to be alone in its decision to   trim output to stem a two-month price slide.
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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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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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OPEC oil cuts already in place are tightening the world market ahead of winter and may prevent a recovery in consumer stocks, the International Energy Agency said on Wednesday, urging OPEC to hold off on a new reduction.
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CAIRO  - The Organisation of Petroleum Exporting Countries (OPEC) is expected to take a &quot;wait and see&quot; stance on what action to take in the face of a fall in oil prices, several ministers said ahead of a cartel meeting.
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Crude oil prices fell Thursday after the Organization of Petroleum Exporting Countries (OPEC) lowered its forecasts for growth in global demand this year and next.
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SINGAPORE/LONDON  - Oil eased below $63 a barrel on Monday as investors weighed plans by OPEC members Nigeria and Venezuela to trim output against healthy inventories in top consumer the United States.
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ABU DHABI/VIENNA  - OPEC is concerned by the fall in the dollar and the producer group will take up the issue when it meets next week to chart supply policy.
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Oil prices continue falling on comments from Opec that suggest increasing supply is a possibility.
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A meeting of OPEC members this week will decide whether to increase its production band and prices, or lower them, amid wildly oscillating oil markets.
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OPEC may be considering cutting its production to stem the recent steep decline in oil prices.
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OPEC oil producers on Thursday weighed up  whether heavy recent price falls were severe enough to warrant  cutting back excess supply at Friday's ministerial meeting.
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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 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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The Organization of Petroleum Exporting Countries (OPEC) expects to see a fall in global oil prices to as much as US$30 per barrel, its president Purnomo Yusgiantoro said here on Thursday.