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CAIRO, Egypt - OPEC will cut back on oil production early next year in a bid to stave off a further decline in the world price, Kuwait's oil minister said Thursday.
The comments by Sheikh Ahmad Fahad Al-Ahmad Al Sabah revealed what delegates to the Organization of Petroleum Exporting Countries had agreed in informal discussions ahead of their formal meeting today.
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CAIRO, Egypt (AP) - OPEC will cut back on oil production early next year in a bid to stave off a further decline in the world price, Kuwait's oil minister said Thursday.
The comments by Sheikh Ahmad Fahad Al-Ahmad Al Sabah revealed what delegates to the Organization of Petroleum Exporting Countries had agreed in informal discussions ahead of their formal meeting on Friday.
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CAIRO, Egypt - OPEC will cut back on production early next year in a bid to stave off a further decline in the world price, Kuwait's oil minister said Thursday.
The comments by Sheikh Ahmad Fahad Al-Ahmad Al Sabah revealed what delegates to the Organization of Petroleum Exporting Countries had agreed on in informal discussions ahead of their formal meeting today.
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CAIRO, Egypt -- OPEC will cut back on oil production early next year in a bid to stave off a further decline in the world price, Kuwait's oil minister said Thursday.
The comments by Sheikh Ahmad Fahad Al-Ahmad Al Sabah revealed what delegates to the Organization of Petroleum Exporting Countries had agreed in informal discussions ahead of their formal meeting today.
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VIENNA, Austria - Seeking to cool market sentiment, the head of OPEC on Sunday said the organization is "concerned" about stubbornly high prices that defy what he described as a well-supplied market and adequate crude stocks worldwide.
The statement by Sheik Ahmad Fahad Al Ahmad Al Sabah, OPEC's president and secretary general, was issued as a clear attempt to dampen speculative buying that last weak briefly drove prices above $55 a barrel. Prices settled by week's end to above $53.
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VIENNA, Austria -- Seeking to cool market sentiment, the head of OPEC on Sunday said the organization is "concerned" about stubbornly high prices that defy what he described as a well-supplied market and adequate crude stocks worldwide.
The statement by Sheik Ahmad Fahad Al Ahmad Al Sabah, OPEC's president and secretary general, was issued as a clear attempt to dampen speculative buying that last weak briefly drove prices above $55 a barrel. Prices settled by week's end to above $53.
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VIENNA, Austria (AP) - OPEC will increase its oil production target by 1 million barrels per day later this year in a move widely viewed as more symbolic than significant, given that the cartel has been exceeding the new output limit since the beginning of the year.
Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said Wednesday the cartel agreed to the decision to raise output by nearly 4 percent, adding it would take effect Nov. 1.
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OPEC will cut back on oil production early next year in a bid to stave off a further decline in the world price, Kuwait's oil minister said Thursday.
The comments by Sheikh Ahmad Fahad Al-Ahmad Al Sabah revealed what delegates to the Organization of Petroleum Exporting Countries had agreed in informal discussions ahead of their formal meeting today.
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... reveals that OPEC President Sheikh Ahmad Fahad Al-Ahmad Al-Sabah said "the market should be well ...
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Semiconductor firm soothes Wall Street NEW YORK -- Stocks rebounded from early losses on Thursday, closing higher as National Semiconductor Corp.'s better-than-expected earnings soothed investors' concerns over higher unemployment and rising oil prices.
National Semiconductor's 22 percent rise in quarterly profits also offset poor sales figures from two other semi-conductor makers and helped tech shares post small gains.
... word from Kuwait's oil minister Sheik Ahmad Fahad Al-Ahmad Al Sabah that OPEC may cut production ear...