OPEC To Monitor Oil Prices in Wake of US Election
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Organization of Petroleum Exporting Countries (OPEC) President Purnomo Yusgiantoro said today that the cartel will monitor any impact on oil prices from the re-election of US President George W. Bush.
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OPEC will take one million barrels of oil a day off oversupplied world markets as soon as possible with its first output cut in more than two years, OPEC officials said on Thursday, sending oil prices back above $60.
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Oil prices jumped above $50 a barrel this morning, supported by US election tallies projecting a slim lead for President George W Bush.
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Indonesia is likely to ask the Organization of Petroleum Exporting Countries (OPEC) during its scheduled meeting later this week to revise upward its crude oil price band so
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VIENNA: OPEC is keeping its foot to the pedal on oil production in a bid to push crude prices back below $40 a barrel. Risking a counter-seasonal fourth quarter build in world crude stocks, Saudi Arabia will
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SYDNEY: Opec may set a new target range for oil prices next week and would like to see crude down from current lofty levels closer to $US30 ($NZ46.
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ABU DHABI/VIENNA  - OPEC is concerned by the fall in the dollar and the producer group will take up the issue when it meets next week to chart supply policy.
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World oil prices steadied with prices, underpinned by the US Atlantic hurricane season -- which threatens to damage energy facilities -- and expectations that OPEC will keep its output unchanged at a meeting next week, dealers said Wednesday.
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Opec's president says oil supply is adequate as Brent crude hits a record $46 a barrel and US light crude hovers 4 cents below its all-time record.
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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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NEW YORK, November 3  - World crude oil prices witnessed significant volatility today on news of John Kerry conceding the US presidential elections, rising above the $50 per barrel mark.
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US light crude jumps back above $42 a barrel as cartel prepares to meet to debate output. CAIRO  - Oil prices rose Thursday as OPEC producers debated whether the recent tumble in prices was severe
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Opec, the oil producers&#39; cartel, is poised to raise its target price range for a barrel of crude this week - delivering a harsh message to oil-guzzling economies to get used to a $30 floor under prices.
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Oil prices rise amid colder weather in the US and speculation that oil cartel Opec might cut output.
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VIENNA, Austria -- Oil prices rose above $62 a barrel Thursday as OPEC delegates said they had agreed in principle to leave production unchanged for now but set the stage for a likely cut of half a million barrels a day in February.
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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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Crude oil futures closed in on $49 a barrel Monday as traders kept an eye on the possibility of another OPEC production cut, turmoil in Nigeria and violence in Iraq ahead of the election.