Iran Oil Minister Gholamhossein Nozari said on Friday it was too early to predict what action OPEC might take when it meets in early December, leaving the door open for a possible production rise to cool prices.
Crude oil prices fell on Thursday after a government report indicated an unexpected rise in U.S. oil and gasoline stocks as winter demand approaches.
Oil drifted lower on Thursday ahead of U.S. government data expected to show a further fall in crude oil supplies in the world's biggest oil consumer.
Oil moved higher on Wednesday, after falling sharply for the past two days, supported by expectations of a further fall in U.S. crude oil supplies and as OPEC brushed off U.S. calls to raise output.
Oil prices slumped more than 3.5 percent Tuesday after the International Energy Agency cut its forecast for world oil demand growth, saying that the recent surge in crude prices had already hurt consumption.
Oil fell more than $1 on Tuesday after the International Energy Agency (IEA) cut its forecast for world oil demand growth, saying that the recent surge in oil prices had already hurt consumption.
U.S. oil slid below $95 on Monday after top exporter Saudi Arabia said OPEC would look at raising output to brake oil's ascent towards $100 and safeguard world economic growth.
Oil fell more than $1 on Monday, reversing the previous session's rally, after OPEC kingpin Saudi Arabia said the cartel would discuss boosting oil output at an upcoming meeting to cool surging oil prices.
Asian stocks sank on Monday with Tokyo's Nikkei hitting its lowest level in about 15 months as investors dumped Japanese exporters on the back of a surge in the yen to an 18-month high versus the dollar.
OPEC's reluctance to open the spigots as oil nears $100 a barrel could backfire on the cartel as alternative energy sources and consumer conservation dig into demand.
OPEC's secretary-general called on Thursday for tighter regulation of oil markets to reduce the speculative investment the exporter group blames for driving prices to nearly $100 a barrel.
Oil sped above $98 a barrel for the first time on Wednesday, closing in on the landmark $100 level, driven by a slumping U.S. dollar and worries over a winter fuel supply crunch.
Oil leapt more than a dollar on Tuesday, rebounding to above $95 a barrel as financial players drove volatility.
Oil climbed more than $1 on Friday, holding near $94 a barrel as concerns about tight supplies in the run up to winter prevented a major sell-off.
Oil climbed $1 on Friday, heading towards $95 as concerns over tight fuel supplies in the run up to winter returned to the fore.
Oil fell more than $1 on Thursday as investors cashed in on a new peak of $96 a barrel struck following a sharp decline in U.S. crude stocks and the U.S. Federal Reserve's interest rate cut the previous day.
Oil on Thursday above $96 for the first time, extending the previous day's 5 percent jump after an unexpected sharp fall in U.S. crude stocks and data showing strong economic growth. Crude oil's inflation adjusted prices is approaching an all-time of $101.70 seen in 1980. The price also includes reaction to a weak U.S. dollar, a Federal Reserve interest rate cut, and andOPEC statement saying prices were out of its control.
U.S. oil hit a record over $95 a barrel on Wednesday, posting the biggest gain in 10 months after a steep drop in U.S. inventories fueled winter supply concerns and the U.S. Federal Reserve cut interest rates.
Oil rallied to $93 after U.S. weekly data showed that crude inventories fell by 3.9 million barrels, countering expectations for an increase.
Oil bounced off early lows to hover around $90 a barrel on Wednesday after some profit-taking from this week's record high, as the market awaited a key rate decision in the U.S. and data on crude inventories there.
Oil fell $4 to below $90 a barrel on Tuesday, plummeting from its record high in a broad commodity sell-off sparked by uncertainty over how aggressive the U.S. Federal Reserve will be in fueling economic growth.
Oil fell more than a dollar on Tuesday, as profit-taking pulled the market down from record highs that were fuelled by a Mexican supply shut-down and a weak dollar.
