OPEC divided on need for deeper output curbs
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OPEC ministers were divided on Saturday on the need for deeper oil-supply cuts, with some concerned about high fuel stockpiles and others reluctant because crude prices are holding firm above $60.
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The OPEC producers' cartel would  consider cutting formal output limits by 1 million to 1.5  million barrels per day (bpd) at its end-January meeting if  U.S. crude prices fall below $40 a barrel, an OPEC source said  on Friday.
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Saudi Arabia has begun to reduce oil output ahead of this week&#39;s Opec meeting, industry officials said yesterday. The reduction, expected to continue over the coming months
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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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Oil producing cartel Opec is to cut back on over-production in a bid to halt declining prices, Kuwait's oil minister says.
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By Peg Mackey and Francois Murphy CAIRO  - OPEC oil producers said on Thursday that Friday's ministerial meeting would focus on halting oversupply to bolster falling prices and that the cartel would have to reduce output quotas early next year.
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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 nations enforce yesterday&#39;s decision to lower output, ministers said.
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OPEC is leaning towards keeping oil output steady at its September 11 meeting, ministers said on Monday, wary the U.S. economy may be headed for a slowdown that would undermine forecasts for strong oil demand growth.
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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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OPEC oil producers said on Thursday that  Friday's ministerial meeting would focus on cutting back  oversupply to support falling prices and that producers 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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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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OPEC ministers will concentrate on quota  compliance rather than cutting official production ceilings to  combat falling oil prices when they meet in Cairo this week,  Iran's oil minister was quoted as saying on 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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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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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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Oil producing cartel Opec will cut back on over-production early next year to prevent a further fall in prices, Kuwait&#39;s oil minister has said.