OPEC Hawks Want to Keep Oil Revenues 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 on Friday prepared to keep oil  supply limits on hold, confident that the world economy can  absorb higher energy costs.
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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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OPEC, the producer of 40 percent of the world's oil, is considering its second production cut in three months to prevent a price drop early next year.
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LONDON, Oct 11  - The Organization of Petroleum Exporting Countries says it is doing everything possible to help cool record high oil prices but its inability to meet markets&#39; wishes reduces its credibility and influence, analysts said Monday.
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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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Saudi Arabia sought to regain some control of oil markets Tuesday, promising to make available 800,000 barrels a day of new oil by the end of the month and to keep pumping crude vigorously.
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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 vowed Sunday to do what it can  to deflate record high oil prices that have soared above $53 a  barrel, and top exporter Saudi Arabia promised to keep the  world supplied with as much oil as it needs.
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Saudi Arabia said Sunday it is seeking stable oil prices in the international market for the sake of consumers and producers. Saudi Oil Minister Ali al-Nuaimi said during
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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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OPEC's top producer Saudi Arabia on Wednesday questioned the need for the cartel to bolster oil prices by cutting supply, saying the kingdom would keep crude output at current high levels as long as customers wanted it.
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OPEC oil producers were poised on Friday to stamp out excess supply that has lowered world prices from record highs.
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OPEC oil producers were poised on Friday  to stamp out excess supply that has lowered world prices from  record highs.
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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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Cairo - The push to cut Opec oil production grew yesterday with the minister of the United Arab Emirates saying on the eve of a meeting of the oil producers&#39; cartel that members had to honour output quotas to stem oversupply and falling prices.
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Opec&#39;s decision yesterday to cut overproduction demonstrated that the world&#39;s biggest oil cartel will defend oil prices that are well above its official price range.