OPEC considers modest oil output rise
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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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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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Oil steadied above $62 on Friday,   supported by signals that some OPEC producers may trim output   to stem a price decline caused by ample U.S. inventories.
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OPEC will mull raising its oil output quota by up to one million barrels per day at a meeting in a largely symbolic gesture as members are already pumping far above the 26 million ceiling.
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Non-OPEC oil exporters should consider  increasing output to cool record crude prices, OPEC President  Purnomo Yusgiantoro said on Sunday.
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OPEC is pumping near flat out in a bid to drag down oil prices but will not rubber-stamp all its extra output with a big increase in formal supply
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Oil prices inched up from a three-month low on Monday as traders caught their breath after last week&#39;s 14 percent dive and considered a possible output reduction at OPEC&#39;s upcoming meeting.
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VIENNA, Austria -- Shrugging off calls to pump more oil, OPEC ministers decided to keep output at present levels at their meeting Friday out of fear that a softening global economy will translate into weakened demand.
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OPEC is pumping near flat out in a bid  to drag down oil prices but will not rubber-stamp all its extra  output with a large increase in formal supply quotas, cartel  ministers and delegates said on Tuesday.
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OPEC may resist calls to raise oil  output quotas much, if at all, when it meets this week for fear  of turning a decline from record prices into a rout.
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Oil ministers of the 11-member Organization of Petroleum Exporting Countries meet Wednesday in Vienna to discuss the possibility of raising production, which could lower world oil prices.
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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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LONDON - Despite a recent plunge in oil prices, Opec producers appear to be in no rush to cut output quotas and markets expect the taps to be left wide open when ministers meet in Cairo this week.
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In a largely symbolic decision, OPEC agreedto increase its formal production ceiling. But the move will have no impact on the physical oil market.
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OPEC may decide to increase oil output  at its February 1 meeting in Vienna if supply is not  sufficient, Indonesia's OPEC governor told Reuters on Thursday.
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Crude oil futures prices rose Wednesday amid concerns about tight heating oil supplies and fears that OPEC could rein in output when it meets later this week.
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OPEC is capable of increasing oil output levels by a further 1.5 million barrels per day to help ease pressure on the market but new supplies may not lower prices, the organisation&#39;s president says.