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OPEC keeps oil output on hold despite low prices

VIENNA - Reflecting its lessening oil clout, OPEC decided to keep its output target on hold and sit out falling crude prices that likely will spiral even lower.
OPEC reaffirms oil output cuts

VIENNA, Austria -- OPEC members will continue their deep cuts in oil output until at least next March, the group said today. The Organization of the Petroleum Exporting Countries announced the widely expected...
OPEC might be pressured by Iraqi, Russian exports

LONDON -- OPEC's decision to slash oil output starting in November will keep crude prices high this...averaged 26.66 million barrels a day for the month. World oil output overall edged upward by 300,000 barrels a day to 80...
OPEC agrees to raise production ceiling but cut output

VIENNA, Austria -- OPEC members agreed Thursday to cut their current oil output by 2 million barrels a day, or 7 percent, in an effort to head off more declines in oil prices. At the same time, the Organization...
OPEC to maintain current output, says Emirates energy minister

ABU DHABI, United Arab Emirates - Oil-producing countries are expected to maintain current oil output quotas of 27 million barrels per day when OPEC ministers meet in Iran this week, the United Arab Emirates energy minister said...
OPEC's oil reduction will raise gas prices

...even higher, analysts say. The Organization of the Petroleum Exporting Countries is widely expected to approve cuts in oil output totaling 2.1 million barrels a day, in a unified effort with nonmembers to strengthen prices for crude that had languished...
Drivers endure high gas prices despite US oil boom

...average price of gasoline is $3.69 per gallon and forecast to creep higher, possibly approaching $4 by May.U.S. oil output rose 14 percent to 6.5 million barrels per day last year ? a record increase. By 2020, the nation is forecast to...
Gas prices continue to fall

...Energy Information Administration to cut their global oil demand outlook for the year. This comes at a time when U.S. oil output is at a 20-year high and supplies are plentiful."Oil and gas prices will likely continue on this downward trend...
OPEC leaves oil output target intact for three months

VIENNA, Austria -- OPEC announced Friday that it would not change its oil production target until its members meet again in June to reassess market conditions, reflecting uncertainty over signs the economy is recovering.\r\n
Boom in US oil output boosts supplies, knocks price down

The Energy Information Administration said oil supplies grew by 2.9 million barrels last week.