This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7276934.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Opec dashes oil supply rise hopes | Opec dashes oil supply rise hopes |
| (about 11 hours later) | |
| The head of Opec, the cartel of oil-producing nations, has said it is unlikely to increase production at this week's meeting. | The head of Opec, the cartel of oil-producing nations, has said it is unlikely to increase production at this week's meeting. |
| It had been hoped members would boost the supply of oil to help prices fall from their historically-high levels. | It had been hoped members would boost the supply of oil to help prices fall from their historically-high levels. |
| Crude oil hit a new record of almost $104 a barrel at the start of the week but settled at $99.52 late on Tuesday. | |
| Oil ministers from Opec member nations are gathering in Vienna ahead of their meeting which starts on Wednesday. | Oil ministers from Opec member nations are gathering in Vienna ahead of their meeting which starts on Wednesday. |
| "I don't think Opec would consider increasing production because then we would be increasing to meet a demand that doesn't exist," Opec President Chakib Khelil said. | "I don't think Opec would consider increasing production because then we would be increasing to meet a demand that doesn't exist," Opec President Chakib Khelil said. |
| US government data, due on Wednesday, is expected to show it has a good supply of crude oil and domestic fuel. | US government data, due on Wednesday, is expected to show it has a good supply of crude oil and domestic fuel. |
| Oil prices have risen to record highs due to high demand for the commodity and the weakening dollar, which has prompted investors to switch to oil and other reputed safe havens such as gold. | Oil prices have risen to record highs due to high demand for the commodity and the weakening dollar, which has prompted investors to switch to oil and other reputed safe havens such as gold. |