Saudis see no Opec switch from dollar crude sales
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LONDON - 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 yesterday.
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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 $40 a barrel. Risking a counter-seasonal fourth quarter build in world crude stocks, Saudi Arabia will
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Saudis are not alarmed about Democratic presidential nominee John Kerry's pledge to end U.S. dependence on Saudi oil and believe Washington will remain reliant on the kingdom, industry experts said Tuesday.
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Oil dropped over $2 to below $58 on Monday after leading exporter Saudi Arabia, fellow OPEC member Qatar and OPEC's head of research said the organization may steer away from further supply cuts at its March 15 meeting.
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The Organization of Petroleum Exporting Countries has no plan to raise output despite record oil prices, the group&#39;s president said Friday.
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OPEC oil producers are unlikely to change output quotas at their December 10 ministerial meeting and have no need yet to rein in a supply surge that has begun to ease record prices, Nigeria's top oil official said on Saturday.
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OPEC may have no need to cut or raise output when it meets in a month's time as the world oil market is in "much, much better health" than before, the Wall Street Journal quoted Saudi Arabia's oil minister as saying.
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OPEC kingpin Saudi Arabia on Monday hinted the cartel would not raise either its official production rate or the price band at a ministerial meeting, as the oil price had stabilised.
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Saudi Arabia Oil Minister Ali Naimi said today he&#39;s not concerned about a sharp further fall in the price of oil, saying prices remain relatively high.
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Oil prices eased on Monday as top world  exporter Saudi Arabia slashed prices for its crude sales to the  United States and Europe in an effort to shift the large  volumes it is offering to cool world markets.
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Would oil prices really fall if Saudi Arabia and other OPEC countries raised their production as President Bush proposed Tuesday? Some questions and answers about prices at the pump:
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Oil prices eased on Monday as top world exporter Saudi Arabia slashed prices for its crude sales to the United States and Europe in an effort to shift the large volumes it is offering to cool world markets.
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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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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's president and oil powerhouse Saudi Arabia stepped back from direct calls to slash output yesterday, the eve of the group's year-end meeting, in potential good news for consumers worldwide.
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OPEC's top producer Saudi Arabia on  Wednesday questioned the need for the cartel to bolster oil  prices by cutting supply, saying the kingdom would keep crude  output at current high levels as long as customers wanted it.
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CAIRO, EGYPT - OPEC&#39;s top producer, Saudi Arabia, on Wednesday said the cartel&#39;s Friday meeting aims to steady falling oil prices and played down fears among fellow members of a supply surplus.