OPEC promises to add output to calm nerves
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JAKARTA OPEC is doing all it can to stabilize the world oil market and will increase spare output capacity by about one million barrels per day in the next few months, the cartel&#39;s president said Monday.
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Saudi Arabia persuaded OPEC to raise oil output by 500,000 barrels per day on Tuesday in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing fuel stocks.
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OPEC producers agreed Sunday to keep  output limits on hold, convinced that oil prices near $50 a  barrel are not stifling world growth.
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OPEC was deciding Tuesday whether to maintain its production quota or give it a modest and symbolic boost to calm oil markets worried that there may not be enough crude to meet global demand by year's end.
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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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OPEC agreed today to increase its crude output by 500,000 barrels a day in an effort to calm jittery markets.
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The Organization of Petroleum Exporting Countries (OPEC) decided on Wednesday to raise its oil production quota by one million barrels a day from Nov. 1 in a step to soothe market nerves over climbing oil prices.
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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 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
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OPEC on Friday prepared to keep oil  supply limits on hold, confident that the world economy can  absorb higher energy costs.
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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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OPEC was poised to keep production steady Thursday as Iran blamed the United States for high oil prices, saying threats against its nuclear program are behind much of the fear and speculation in the market.
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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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Nervous OPEC oil producers on Wednesday  sized up how fast this week's ministerial meeting should rein  in a supply surge that has helped drag crude prices down by a  quarter in barely six weeks.
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Business & money: Opec under pressure to increase production after warning that prices could peak by end of year.
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OPEC oil producers have said they will rein in oversupply to bolster falling prices and that the cartel would have to reduce output quotas early next year.
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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...