U.S. Energy Secretary Steven Chu said late on Friday that OPEC ministers should take into account the harm high oil prices can do to the global economy when they meet in Vienna this Sunday to discuss whether to carry out another oil production cut.
Oil fell toward $46 a barrel on Friday, as bearish demand forecasts outweighed the potential for OPEC agreeing to further production cuts at its weekend meeting.
Oil fell $1 on Friday to below $46 as the stock market dropped and traders awaited OPEC's meeting this weekend.
Oil held above $47 a barrel on Friday ahead of OPEC's Sunday meeting in Vienna, after two volatile days of trade this week.
Oil rose above $48 a barrel on Friday ahead of OPEC's Sunday meeting in Vienna, after two volatile days of trade this week.
Oil edged down below $47 a barrel on Friday ahead of OPEC's meeting this weekend which pushed prices up by more than 11 percent in the previous session, helped by better-than-expected economic data.
Oil rose more than 11 percent to top $46 a barrel on Thursday following better-than-expected U.S. February retail sales data and ahead of a weekend OPEC meeting.
Oil rose more than 10 percent to top $46 a barrel on Thursday, following better-than-expected U.S. February retail sales data and ahead of a weekend OPEC meeting.
Oil rose nearly 7 percent to top $45 a barrel on Thursday encouraged by U.S. February retail sales data and ahead of a weekend OPEC meeting.
Oil rose more than $1 above $43 a barrel on Thursday encouraged by strong loan data from China, which investors speculated could feed through into economic growth, and ahead of an OPEC meeting.
Oil fell more than 7 percent to $42 per barrel on Wednesday on further signs of weak global demand and rising inventories in top consumer the United States.
Oil fell 5 percent to below $44 on Wednesday on further signs of weak global demand and rising inventories in top consumer the United States.
Oil fell 5 percent to below $44 on Wednesday on further signs of weak global demand and rising inventories in top consumer the United States.
Oil fell $1 to below $45 a barrel on Wednesday on further signs of weak global demand and rising inventories in top consumer the United States.
Oil fell toward $45 a barrel on Wednesday as further evidence of a large drop in global crude demand emerged.
Oil fell by more than a dollar toward $44 a barrel on Wednesday as further evidence of a large drop in global crude demand emerged.
Oil fell below $46 a barrel on Tuesday as the U.S. government revised down its forecast for world oil demand in 2009.
Oil rose above $47 a barrel on Tuesday after reports Saudi Arabia was largely maintaining its supply curbs to Asia and Europe and as analysts expected a drop in U.S. crude inventories.
Oil edged down below $47 a barrel on Tuesday, as dealers mulled OPEC output options at a meeting this weekend and ahead of weekly U.S. stocks data expected to show another fall in crude inventories.
Oil held above $47 a barrel on Tuesday, as dealers mulled the possibility of deeper OPEC output cuts at a meeting this weekend and ahead of weekly U.S. stocks data expected to show another fall in crude inventories.
Oil jumped more than 3 percent to $47 a barrel on Monday as a naval incident between the United States and China, the world's top oil consumers, boosted geopolitical tensions and as dealers pondered the possibility of deeper production cuts by OPEC.
Oil jumped more than 3 percent to over $47 a barrel on Monday on speculation producer group OPEC may cut output again and a naval incident between the United States and China, the world's top oil consumers.
