OPEC Hawks Want to Keep Prices High
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Raise prices. Ease production. For weeks ahead of this week's OPEC meeting, hawks in the organization have been talking tough about the need to keep oil revenues high - and lowering output.
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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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Officials from the world's seven largest economies urge oil producers to increase supply to bring down prices.
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As if on cue, airlines are responding to oil's latest surge by pushing ticket prices even higher
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The world's top finance officials on  Friday asked oil-producing nations to step up production and  agreed it was crucial to work out exactly why prices have  soared to levels that threaten global growth.
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HOUSTON, Dec. 10 -- Energy prices continued to climb Thursday in anticipation that members of the Organization of the Petroleum Exporting Countries would at least curb overproduction at their meeting Friday in Cairo.
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OPEC has extended a message to calm down to the oil consuming countries following an agreement by its countries in Vienna to increase the ceiling of oil production by 4%, which means an increase of one million barrels a day, in the hope to reduce prices.
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OPEC is keeping its foot to the pedal on  production in a bid to drag down oil prices but may be  reluctant to rubber-stamp extra supplies by lifting official  output limits, Saudi Arabia said on Tuesday.
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After hovering above $22 for months, cartel looks to adjust range to $28 to reflect soaring prices. SYDNEY  - OPEC may set a new target range for oil prices next week and would like to see crude down
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Indonesia is likely to ask the Organization of Petroleum Exporting Countries (OPEC) during its scheduled meeting later this week to revise upward its crude oil price band so
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Opec, the oil producers&#39; cartel, is poised to raise its target price range for a barrel of crude this week - delivering a harsh message to oil-guzzling economies to get used to a $30 floor under prices.
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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.
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OPEC, pumping oil at the fastest pace in 25 years, has little ammunition left to reduce near- record prices at a meeting this week, and some analysts are forecasting crude above $40 a barrel for the rest of the year.
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The Organization of Petroleum Exporting Countries is likely to keep production at a 25-year high to prevent shortages during the US winter and lower prices, OPEC officials said.
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PARIS -- Airlines the world over are raising fares to offset rising oil prices that threaten to choke off a gradual recovery in air travel and pile more woes on struggling carriers.
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Two OPEC members are pledging to increase supply or boost reserves as oil prices spiral higher, according to media reports Sunday.
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Saudi Arabian Oil Minister Ali al-Naimi Wednesday questioned the need for OPEC oil producers to rein in oil supply, saying the cartel&#39;s reference crude price was still above its official target despite steep recent falls.