InfoAnda - OPEC set to hold output steady

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

S.Korea suspends Deutsche Bank brokerage unit | 24 February 2011
"Thriller" voted most influential pop video in poll | 3 May 2010
Qimonda still seeks investors, cuts production | 14 March 2009

Eminem, clean and sober, draws on new inspiration | | 26 June 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : OPEC set to hold output steady

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: OPEC set to hold output steady AFP - Thursday, May 28 VIENNA, (AFP) - - OPEC was set to keep its output unchanged at a meeting in Vienna, with hopes of recovering demand for crude and higher prices convincing members to maintain the status quo. ADVERTISEMENT The 12-member oil exporter group believes the market is oversupplied, as shown by the high stock levels, but it seems satisfied with prices after a rally in the last two weeks that has taken crude above 60 dollars a barrel. Saudi Arabia, the most influential power in the cartel, pointed to signs of a pick-up in demand Wednesday and led calls for keeping the group's output target steady at 24.84 million barrels a day. "The market is currently out of balance, but it's starting to get back in balance," Saudi Oil Minister Ali al-Nuaimi told reporters, suggesting that global economic recovery would help absorb current overproduction. Algeria's minister said there was consensus for no change in policy and even hardline Iran, whose oil minister usually pushes for output cuts, conceded that the group's production target would remain the same. "Prices are stabilising or even increasing, so why change (output)?" Algerian Energy Minister Chakib Khelil asked rhetorically as he arrived here. "The supply is higher than demand, but refineries are functioning better, there is increased demand in gasoline and the economy is doing better, so there are some good signs that will support prices," he added. Crude prices spiked to a six-month high above 63 dollars on Wednesday, but they remain below the 75 dollars that OPEC members say they want in the longer term. Economists warn however that high prices will further drag on economic growth. The Organization of Petroleum Exporting Countries, which pumps 40 percent of world oil, cut its production target three times late last year to stabilise prices which tumbled from record highs above 147 dollars per barrel in July 2008 to 32.40 dollars in December. The group seeks to influence prices by setting itself an output quota, with members given individual production targets which are reviewed at regular meetings. "Although fundamental conditions remain weak, higher prevailing prices as well as continuing concerns about quota discipline outside of the Gulf Arab states makes a roll-over (no change) the most likely outcome," wrote analysts at the PFC Energy consultancy. OPEC Secretary General Abdalla Salem El-Badri pointed to an improving economic environment as the reason for the recent run up in the crude market. "We are seeing some small light at the end of the tunnel," he said. "We may see at the end of the year a price of 70 dollars a barrel," he added. "I hope we see a recovery. It is coming, but it is going to be very slow." Nigerian Oil Minister Rilwanu Lukman said Wednesday that prices "could be better." Venezuelan Energy Minister Rafael Ramirez, a fellow price hawk like Iran, did not call for a reduction in OPEC's output target, but said members should respect their quotas and cut back their overproduction. "There is an excess on the market of about a million barrels per day," he said as he arrived on Wednesday. "The most important thing is unity and cohesion in OPEC with the common objective of all ministers... to have (price) levels of more than 70 dollars," he added. As noted by the energy watchdog the International Energy Agency, OPEC members are increasingly surpassing their quota levels, meaning that the group could reduce real output by clamping down on this overproduction. PFC said the non-compliance of mainly non-Gulf members had "hamstrung any real discussion of a potential cut" at the meeting on Thursday Khelil said OPEC production was 800,000 barrels a day above the target of 24.84 million barrels a day. "If we complied, I don't think the price would be only at 60 dollars. It would be higher," he said. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Enlarge Photo A man rides his scooter past oil rigs in Cangzhou, in northern China's Hebei Province. OPEC was set to keep its output unchanged at a meeting in Vienna, with hopes of recovering demand for crude and higher prices convincing members to maintain the status quo. Most Popular – Top Stories Viewed Canada's governor eats raw seal heart NZealand zookeeper killed by white tiger: police Climate change: World's destiny at stake Medvedev scolds officials for gloomy forecasts Vitamin D boosts brain power in middle-aged men View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Thursday, 28 May 2009
Astronauts blast off to double space station crew
GM fate uncertain, Chrysler poised for overhaul
Russian girl discovered 'behaving like dog'
Netanyahu cites reciprocity on eve of Abbas U.S. trip | International |
Iraq leader vows to end corruption amid scandal | International |
Crunch time for Opel as Germany mulls China bid
Sri Lanka eases restrictions at biggest camp: U.N. | International |
Israeli bill seeks to outlaw denial of Jewish state | International |
U.S. targets Hezbollah network in Africa | International |
Egg bombardment disrupts Czech leftists | International |
Nokia apologises for hitches with new online store
Nokia halts investment in media-sharing site
Ex Italian spy denies involvement in CIA kidnapping
Yahoo CEO says talks with Microsoft continue | Technology |
AT&T says to double mobile data speeds by 2011 | Technology |
Three million UK homes are Web Notspots | Technology |
Beijing protest honours Pelosi's visit
Judge says will quit KRouge court if can't work
Roh leapt to death 'after sending guard away'
US offers reward for Philippine militant suspects
Pakistani 10-year PIB cut-off yield at 12.6303 pct
Indonesia to double palm oil production by 2020
Rare white tiger kills NZealand zookeeper: police
GM future in the balance, Chrysler set for overhaul
Bomb kills troops in Pakistan's Swat: officials
Crunch time for Opel as Germany mulls China bid
Australia braced for swine flu, as Asia cases rise
Fitch:NZ budget deficit itself won't trigger downgrade
Facebook fugitive caught after 105 days
China expects 600 bln yuan of new loans in May
Taiwan man arrested for cyber love scams
Eight carriers in undersea Asia cable project
Singer Chris Brown says he's not a monster | Entertainment |
'Slumdog' child stars to get new homes
Students suffer in France's four-month strike
Japan launches digital archive on director Kurosawa
Achtung tourists! Berlin eateries get cheeky
Attacks, strikes kill 34 in Afghanistan
Ousted Madagascar president accuses France of backing rival
Iraq PM vows to root out graft after trade minister quits
US journalism institute, entrepreneurs in news venture
Germany holds high-stakes Opel meeting
North Korea faces U.N. sanctions | International |
Jobs sounds 'healthy, energetic': Apple co-founder
Pakistani Taliban claim responsibility for Lahore attack | International |
World first: Japanese scientists create transgenic monkeys
Global newspaper sales 'inch up in 2008'
Eminem's "Relapse" Debuts At #1 On The Billboard Albums Chart
Website documents Google Book debate
Obama to hear Abbas plea on Israeli settlements | International |
Director Danny Boyle Rescues "Slumdog Millionaire" Kids From Homelessness
Suicide car bomb hits Lahore, 23 dead
Amnesty: Economic crisis fuels rights time bomb | International |
search worth 'boatloads of money': Bartz
Chris Brown Claims He "Ain't A Monster," Plugs Upcoming Album
Photos show rape and sex abuse in Iraq jails: report | International |
Ed McMahon Settles Lawsuit With Mansion Owners Over His Fall
'DTXTR' translates teen text into English
'New arms race' taking shape in cyberspace: Van Loan
James Brown's Heirs Settle Estate Feud
NATO and Afghan troops kill 34 Taliban | International |
Global newspaper sales inched up in 2008: industry body
U.N. rights body backs Sri Lankan resolution on war | International |
Putin urges innovation to revive Russia
Mike Tyson's Daughter Dies After Accidently Strangling Herself
Tiananmen protests a distant memory for China youth | International |
Nokia apologises for hitches with new online store
Black Eyed Peas Hold Off Kris Allen From The Top Of The iTunes Top 10
IMF denies reports it negotiated with Hezbollah | International |
US expat's blog on Saudi life censored
'DTXTR' translates teen text into English
Park makes history, but United off song in Rome
Rights diplomats fail to find Sri Lanka compromise
Obama draws line on Israeli settlements
Japan PM, opposition rival face off in first debate
Court set to rule on Chrysler's fate
China unveils new measures to boost exports
Videogames get more physical as recession bites | Technology |
AT&T eyes sale of Palm Pre in future | Technology |
Govt announces money for green jobs, training
South Korea to help Algeria boost growth and diversify
Geithner to meet top Chinese leaders
Malaysia heads for recession after 6.2% Q1 contraction
Up to nine Chinese buying teams to head for Taiwan: govt
Indonesia expects 5.0-6.0% growth in 2010: minister
AmEx sues rocker Courtney Love for unpaid bill | Entertainment |
Singer Chris Brown says he's not a monster | Entertainment |
Warhol collector's monopoly suit gets green light
Tom Hanks enlists for WWII documentary | Entertainment |
Fall in Singapore tourist arrrivals eases in April
John Lithgow kills for 'Dexter' role | Entertainment |
Cambodia breaks ground on its first overpass
Year Without Sex proves to be time well spent | Entertainment |
Rapper Jay-Z close to a deal with Sony | Entertainment |
Buckcherry supporting Kiss on summer tour | Entertainment |
Spike's Jesse James should be outlawed | Entertainment |
Israeli actress Game for Plame CIA tale | Entertainment |
Update: Missing Philadelphia Mom, Daughter Found In Florida's Disney World
Millions Threatened by Shortage of Yellow Fever Vaccine
Retired U.S. Navy Warship Sunk In Florida Keys To Become Artificial Reef
Kansas Girl Wins Naming Rights to Next Mars Rover
Mother, Daughter Abduction Triggers Amber Alert In Pennsylvania
Wall Street Takes Late Slide On Treasury News
President Obama Touts Solar Energy Plan At Nevada Press Conference
Ft Campbell Army Base Closed For 3 Days Because Of High Number Of Suicides
White House Press Secretary Gibbs Discusses Sotomayor, North Korea During Press Conference
IRS Tax Revenue Declines With People's Income
Microsoft launching Zune HD
Attack kills 34 insurgents in Afghanistan
Youth diabetes in Europe set to explode: study
Britain appeals for release of kidnapped men in Iraq
GM talks with Europe break down, Chrysler future on hold
At least 4 die in major quake off Honduras | International |
Depeche Mode's Dave Gahan Undergoes Surgery Following Show Cancellations
Slain leaders' heirs vie for Lebanon votes
Kelly Ripa Warns Weight Loss Product Company For Unauthorized Use Of Her Image
Sri Lanka says U.N. rights vote vindicates war victory | International |
U.S. and Israel square off over settlement expansion
OPEC set to hold output steady
Gary Collins Sentenced To Four Months Of House Arrest
Myanmar hits back at critics of Suu Kyi trial | International |
Simon Cowell's Ex-Girlfriend Requests Restraining Order Against Attacker
Berlusconi would resign if lied over teenager | International |
Courtney Love Sued By American Express For $350K Unpaid Bills
Amnesty raps Medvedev on Russia rights violations | International |
Paparazzo Cries Assault By Chris Brown's Bodyguard
Irish president says abuse report didn't come as shock | International |
Russian police find feral girl in Siberia | International |
Govt announces money for green jobs and training
Help for poor countries at Paris climate talks
Brian Eno lights up Sydney Opera House for global warming
Taliban claims Lahore attack
Publisher defends Zhao memoir after Beijing attack
Australian FM condemns attacks on Indian students
Microsoft revamps search engine, dubbed Bing | Technology |
China-made children's products unsafe: state media
Time Warner to separate AOL near year end | Technology |
SAsian cyclone toll 200, villagers return home
News Corp hopes for broader ad deal with Google | Technology |
Myanmar overshadows Europe-ASEAN meetings
iPhone to replace register at Japan university | Technology |
SKorea, US upgrade alert after NKorea threat: ministry
Wired South Korea mourns ex-president online | Technology |
Amnesty targets Pakistan and SLanka rights records
Indonesia's mud victims await justice
Videogames get more physical as recession bites | Technology |
Obama names ambassadors to Japan, India, Sri Lanka
Chef jailed 2 nights has same name as drug suspect
Decomposed Remains Found Near Des Plaines River Belong To A Man
Cancer Death Rates Falling Across The U.S.
Japan warns on global rise in protectionism
Seoul, United States Raise Alert Levels In Korean Peninsula
GE boss Immelt: Worst is over in crisis
WRAPUP 1-S.Korea manufacturing mood soars, central bank cautious
Obama Raises $4 Million At Hollywood Fundraiser
Seoul shares gain 2 pct led by banks, exporters
AT&T Wireless To Upgrade Its 3G Network By 2011
South Korea loosens bank capital requirements
U.S. Goes After Two Hezbollah Fundraisers In Africa
NZ April household borrowing rises in April
Responding To Appeal By Bush v. Gore Lawyers, Gay Groups Warn Against "Ill-Timed Lawsuits"
NZ dollar gains on S&P revision after budget
Obama Heads Back To White House For Meeting With Palestinian Leader, Clinton
RPT-WRAPUP 2-NZ wins S&P reprieve after belt-tightening budget
Democratic Rep. Joe Sestak Announces Intention To Run Against Specter
S&P lifts NZ outlook to stable, affirms rating
Three-Year-Old California Girl Accidentally Shoots Dead Younger Brother
New Zealand plans NZ$8.5 bln bond issues in 2009/10
Born to Run? Teen star Demi Lovato launches tour | Entertainment |
Finns get a break from stress in saunas
The Mentalist voted sexiest, best new TV show | Entertainment |
Cash crunch hits Amsterdam's red-light district
Russian heir fights Yale over van Gogh painting
Boyle dreams as British talent show final looms
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01