OPEC won't cut output unless prices plummet
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Crude oil futures would need to fall to about $37 a barrel before OPEC decides to cut production, according to a person familiar with the thinking of the cartel's top officials.
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Oil prices will only fall if global conflicts are resolved, the boss of oil prducers&#39; organisation Opec has warned. Opec president Purnomo Yusgiantoro said its members were increasing production to meet high
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OPEC, the producer of more than a third of the world&#39;s oil, expects prices will recover from their second-largest drop this year as members enforce their decision to lower output, ministers said.
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The Organization of Petroleum Exporting Countries (OPEC) says it is doing everything it can to stabilize oil prices. The reality, however, is that
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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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OPEC oil producers are unlikely to change output quotas at their December 10 ministerial meeting and have no need yet to rein in a supply surge that has begun to ease record prices, Nigeria's top oil official said on Saturday.
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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 is poised to stick with existing  oil supply limits, deferring a decision on cutbacks to counter  falling seasonal demand until March, cartel ministers said  Saturday.
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OPEC cannot rule out cutting oil production if oil prices slide further before the producer group meets next Friday, a senior OPEC delegate said on Friday.
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ABUJA, Nigeria  -- With oil prices recently dipping to seven-month lows, OPEC's president said Thursday that the group is considering an emergency meeting to discuss the possibility of cutting output.
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OPEC oil producers meeting on Sunday are  debating what advance measures they can put in place to head  off a potential price drop after the northern winter, cartel  ministers said on Saturday.
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Oil prices rally as the president of Opec says the producers group is considering a cut in output.
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OPEC sees no reason to change crude output as the nine-month high in oil prices last week was due to U.S. gasoline supply concerns and international political tension, a senior OPEC delegate said on Monday.
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OPEC is unlikely to change production at   its meeting this month and, due to high prices, is likely to   continue supplying the market more than demand, Iran's OPEC   governor Hossein Kazempour Ardebili said on Saturday.
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Oil prices eased on Friday as OPEC  looked set to keep output unchanged at its meeting this  weekend, although concern ahead of Sunday's election in Iraq  limited the fall.
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CAIRO - Giant oil producer Opec expects prices to recover from the second-largest drop this year as members enforce their decision to lower output.
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Although the United States is seemingly heading toward a recession, OPEC may soon have to cut its output to offset a seasonal demand slowdown in the spring.