OPEC nations agree to boost daily oil quota
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OPEC nations agreed to revise their oil production quota, boosting it by 1 million barrels per day in an effort to talk down crude oil prices.
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OPEC is capable of increasing oil output levels by a further 1.5 million barrels per day to help ease pressure on the market but new supplies may not lower prices, the organisation&#39;s president says.
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OPEC on Wednesday agreed to lift formal  output quotas by one million barrels a day, four percent, to 27  million barrels a day, an OPEC delegate said.
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OPEC has extended a message to calm down to the oil consuming countries following an agreement by its countries in Vienna to increase the ceiling of oil production by 4%, which means an increase of one million barrels a day, in the hope to reduce prices.
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Kuwait would back a hike of 1 million barrels per day (bpd) in Opec&#39;s oil output ceiling if crude prices remained at record levels, it said yesterday in a move
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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 ministers decided after a meeting to keep the cartel's official output ceiling at 28.0 million barrels of oil per day, Qatari Energy Minister Abdullah bin Hamad al-Attiyah said.
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OPEC producers agreed Sunday to keep output limits on hold, convinced that oil prices near &#36;50 a barrel are not stifling world growth.
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OPEC will increase the cartel&#39;s oil production by 1 million barrels a day to meet the global demand for oil. Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said the cartel
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VIENNA : OPEC insisted that high oil prices were a result of speculation and vowed to provide enough crude to calm global markets, while an energy research group warned prices could remain high for some time.
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By Edmund Blair and Barbara Lewis CAIRO  - OPEC oil producers on Friday agreed to stamp out excess supply that has lowered world prices from record highs.
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In an attempt to prove it can still influence the global oil market, OPEC boosted its production target by 1 million barrels a day and began lobbying oil producers that aren&#39;t part of the cartel to follow suit.
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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 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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LONDON, December 10  - The organization of petroleum exporting countries (OPEC) agreed today to withdraw one million barrels of surplus production over the set quota of 27 million barrels per day in an effort to check the recent decline
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OPEC is pumping near flat out in a bid  to drag down oil prices but will not rubber-stamp all its extra  output with a big increase in formal supply quotas, cartel  ministers and delegates said on Tuesday.
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Saudi Arabia and other Gulf Arab states back a token rise in OPEC oil output in a gesture to consumer nations worried by the economic impact of $76 oil and rapidly diminishing stocks, an OPEC source said on Monday.