'Gas OPEC' to be discussed again in June: Qatar
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Gas-producing countries will discuss the idea of forming a "gas OPEC" along the lines of the existing oil cartel in June in Moscow, Qatar's energy minister said on Friday.
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JAKARTA: Opec wants a faster retreat in oil prices and will discuss whether to raise its official oil output ceiling at its September 15 meeting, cartel president Purnomo Yusgiantoro said on Thursday.
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Top OPEC producer Saudi Arabia on  Wednesday questioned the need for OPEC oil producers to rein in  supply, saying the kingdom would keep crude output at current  high levels as long as customers wanted it.
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Saudi Arabia and other OPEC member states believe the group should cut oil output again to balance markets but others may be reluctant with crude prices firmly above $60, a senior OPEC delegate said on Saturday.
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The Organization of Petroleum Exporting Countries (OPEC) expects to find a solution with non-OPEC members and oil companies to jointly stabilize oil prices at their meeting next month, OPEC president Purnomo Yusgiantoro said.
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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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Oil producing cartel Opec is to cut back on over-production in a bid to halt declining prices, Kuwait's oil minister says.
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The supply of oil is still outstripping demand after OPEC, the producer of more than a third of the world&#39;s output, begins to reduce production to prop up falling prices, the Qatari oil minister said.
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Heads of state are to meet in Cuba for talks on a Venezuelan initiative offering cheap oil to regional allies.
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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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VIENNA OPEC oil ministers are meeting on Wednesday in Vienna to consider changes to the group&#39;s formal output ceiling even as crude prices remain high despite the cartel&#39;s efforts to lower them.
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World oil prices should remain next year around current levels and OPEC&#39;s existing price target band should be raised because it has failed to reflect the market, Venezuela&#39;s energy minister said on Sunday.
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OPEC has agreed an oil output cut of 500,000 barrels per day, or two percent, delayed until February1 when the northern winter is ending, Qatar's oil minister said on Thursday, sending oil prices more than a dollar higher.
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Opec is under pressure to lift official production levels at a critical meeting today as global crude prices rose again on the back of pipeline attacks in Iraq and hurricanes heading for the Gulf of Mexico.
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OPEC has stressed its view that high oil prices were a result of speculation and pledged to provide enough crude to calm global markets, while an energy research group warned prices could remain high for some time.
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Oil ministers from the Organisation for Petroleum Producing and Exporting Countries (OPEC) meet tomorrow in Cairo for their 133rd extraordinary session.
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A meeting of the oil producers' group in Vienna will consider whether to boost output to rein in price rises, Saudi officials say.