Higher oil pricing may be in store from OPEC
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OPEC oil production cuts, announced at a special meeting of that cartelâs representatives in Cairo, Egypt Friday, are part of a strategy to keep light sweet crude prices above $40 a barrel.
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OPEC will consider raising its average price band at a meeting next week, but has forecast crude prices to fall by up to a third once elections in the US and Iraq are completed.
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Oil prices rise amid colder weather in the US and speculation that oil cartel Opec might cut output.
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SINGAPORE, DEC 6: Oil prices inched up from a three-month low on Monday as traders caught their breath after last weekâs 14% dive and considered a possible output reduction at Opecâs upcoming meeting.
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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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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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US light crude jumps back above $42 a barrel as cartel prepares to meet to debate output. CAIRO  - Oil prices rose Thursday as OPEC producers debated whether the recent tumble in prices was severe
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Oil prices rose on Monday as the OPEC  cartel said it might cut supply as the Northern Hemisphere  winter draws to a close.
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After producing at the fastest pace in 25 years, the cartel is ready to cut back, but just a bit. CAIRO, Egypt  - Oil prices rose Friday as OPEC oil producers were poised to stamp out excess supply that has lowered world prices from record highs.
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Oil prices rose more than $1 a barrel yesterday after an attack on an oil facility in Iraq and after Saudi Arabia's oil minister said OPEC might decide to cut output again when it meets next month.
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Oil prices may have peaked last month as OPEC and other countries boosted production and record high prices restrained demand, said the International Energy Agency, an adviser to 26 nations.
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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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Opec members have split on whether their output should be increased in a bid to boost global supply that might cause oil prices to drop.
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VIENNA: Oilâs record price surge has thrust the Organisation of Petroleum Exporting Countries (Opec) into the political spotlight more than any time since the 1970s.
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OIL prices edged higher in Asian trading today as the market waited for a decision by OPEC ministers on whether to cut the cartel&#39;s production when they meet in Egypt later today.
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VIENNA, Austria -- Raise prices. Ease production. For weeks ahead of this week&#39;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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By Channel NewsAsia&#39;s Indonesia Bureau Chief Haseenah Koyakutty. JAKARTA : The head of the Organisation of Petroleum Exporting Countries, or OPEC, says he expects global oil prices to come well off their current crippling highs.