Oil prices won't fall, OPEC says
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VIENNA -- Consumers received no solace yesterday from OPEC, which said oil prices near $50 per barrel would remain high through the spring, even as the cartel decided to keep its production ceiling unchanged.
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WARSAW/DOHA  - Saudi Arabia and other OPEC members said on Wednesday they are not to blame for near-record oil prices, pointing the finger at a global shortage of refinery capacity and international political tension.
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OPEC oil producers on Saturday  recommended no change in cartel output quotas but said they  were ready to intervene should prices look like tumbling after  the northern winter.
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VIENNA -- OPEC will hold its oil production steady for now -- but it is casting a wary eye on prices as the cost of crude plummets to five-month lows.
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Why oil won't fall below $60 again.
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SINGAPORE: Oil prices stayed on the boil above $53 a barrel on Monday, bolstered by persistent anxiety over Opec member Nigeria and the nearly month-long loss of a quarter of US Gulf of Mexico production, traders said.
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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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Oil held above $61 on Tuesday after   rebounding from a six-month low as speculators fear a deepening   fall could prompt OPEC to rein in output.
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Oil prices held steady on Friday just  hours ahead of a key meeting of the OPEC producers' cartel,  which was expected to agree to curb crude output running above  the group's official production limits.
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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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Oil steadied above $62 on Friday,   supported by signals that some OPEC producers may trim output   to stem a price decline caused by ample U.S. inventories.
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Oil prices fell on Monday after OPEC   agreed to keep pumping at high rates to ensure world consumers   were well-supplied despite a 20 percent slide in prices since   mid-July.
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OPEC on Thursday prepared to leave oil  supply quotas unchanged and keep pumping at full capacity,  rejecting a push for a production cut by host Venezuela, the  cartel&#039;s leading price hawk.
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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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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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OPEC will keep its oil output near a 25-year high despite a $13 fall in the crude price since mid-July, ministers said on Monday, but the group left the door open to a supply cut before the end of the year.
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The high price of oil will continue until the end of March 2008, the president of OPEC said Saturday.