Opec to raise output ceiling issue in Sept 15 meeting
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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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OPEC decided Wednesday to increaseits daily oil production ceiling by 1 million barrels beginning from Nov. 1 to bring down oil prices in the world market to a reasonable level.
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U.S. crude price could top $90 a barrel this autumn and hit $95 by the end of the year if OPEC keeps oil production capped at current levels, Goldman Sachs said in a report issued on Monday.
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NEW YORK, December 6  - Oil prices increased today on fears of the announcement of an output cut by the OPEC during its meeting scheduled for later this week.
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Oil cartel expected to call for tighter compliance with official quota levels at Cairo meeting. CAIRO  - The OPEC oil cartel is unlikely to lower its official production ceiling when ministers meet
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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.
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Oil prices rose for a third straight  session on Friday as OPEC agreed to curb leakage over official  output limits to stem a price slide from October's record  highs.
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The world's top finance officials on  Friday asked oil-producing nations to step up output and agreed  it was crucial to work out exactly why prices have soared to  levels that threaten global growth.
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OPEC meets on Thursday to set oil output policy through winter, under pressure from importing nations to steer away from a further cut that risks pushing up prices and damaging economic growth.
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VIENNA, Austria Sept. 14, 2004 - Members of the Organization of Petroleum Exporting Countries were divided Tuesday on whether output should be increased in a bid to boost global supply that might cause prices to drop.
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NEW YORK, September 16 (New Ratings) - The Organization of Petroleum Exporting Countries (OPEC) has decided to raise its official crude oil output quota by 1 million barrels per day, effective from November 1 this year.
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Oil group Opec is expected to maintain its output quotas at a meeting on Monday, even as prices have been falling.
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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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Saudi Arabia does not object to OPEC raising the current price band when oil-producing nations meet Sept. 15 and is negotiating the level with other oil-rich Gulf countries, a Saudi oil official said Sunday.
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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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The world's top finance officials on Friday asked oil-producing nations to step up output and agreed it was crucial to work out exactly why prices have soared to levels that threaten global growth.
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OPEC President Purnomo Yusgiantoro said on Thursday that OPEC should continue to produce above its official ceiling rather than tighten output to support prices.