Oil rises nearly $1 after OPEC agrees on output cut
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Oil rose nearly $1 to above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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Oil rose on Monday, nearing $91 a barrel, with prices supported by the closure of Mexico's oil export terminals due to bad weather, as well as OPEC's dismissal of calls to raise output.
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Oil jumped 3 percent to nearly $63 a   barrel on Wednesday as expectations that producing cartel OPEC   may slash output to defend prices countered rising U.S.   inventories.
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Oil rose toward $62 a barrel on   Tuesday as producer group OPEC kindled fears of production   cuts, saying oil's steep slide from record peaks had brought   prices too low.
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Oil edged up to $63 a barrel on Friday after OPEC agreed to cut supply for a second time in two months, underlining its determination to manage the market and prop up prices.
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OPEC responded to recent high oil prices yesterday by raising its output quotas by 1 million barrels per day (bpd) of crude, effective from 1 November, a move analysts said was largely cosmetic in light of its current overproduction.
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OPEC decided at its ministerial meeting here Wednesday to increase its oil production ceiling by 1million barrels a day beginning Nov. 1, but the decision will have little real impact on the high oil prices.
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Organization of Petroleum Exporting Countries (OPEC) ministers agreed to increase the cartel&#39;s official daily production quota by one million barrels.
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Oil prices added to strong gains on Thursday, spurred by persistent OPEC talk of a cut in supplies ahead of the second quarter that could drain healthy U.S. stockpiles before summer.
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VIENNA, Austria - OPEC will increase its oil production target by 1 million barrels a day later this year in a move widely viewed as more symbolic than significant, given that the cartel has been exceeding the new output limit since the beginning of the year.    Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said Wednesday the cartel agreed to the decision to raise output by nearly 4 percent, adding it would take effect Nov...
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Oil prices slumped more than $1 on  Tuesday as dealers anticipated another increase in U.S. crude  stockpiles, countering lingering fears OPEC may slash output in  the first quarter.
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LONDON  - Oil prices rebounded on concerns that OPEC producers might announce a surprise cut in output quotas when they meet later this week, following a recent market sell-off, analysts said.
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A meeting of the Organization of Petroleum Exporting Countries (OPEC) has resulted in an increase of the cartelâs official oil production ceiling by one million barrels per day (bpd).
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Oil turned higher again on Tuesday after retreating from record highs in response to concerns about the U.S. economy and further indications OPEC has already substantially raised oil output.
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OPEC will increase its official oil production target by one million barrels a day later this year in a move widely viewed as more symbolic than significant, given that the cartel has been exceeding the new output limit all year.
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VIENNA, Austria - OPEC will increase its oil production by 1 million barrels a day later this year in a move widely viewed as more symbolic than significant - given that the cartel is already exceeding the new quota.    Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said Wednesday the cartel agreed to the decision to raise output by nearly 4 percent, adding it would take effect Nov...
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Oil prices rise above $63 a barrel after the president of the Opec producers cartel says he favoured another cut in output.