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Online Stock Market Trading OPEC oil producers on Friday agreed to squeeze out excess supply that has lowered world prices from record highs.

gallons (an amount equivalent to roughly 18% more barrels of oil than the U.S. imports from Gulf State Members of OPEC).

Stock Investing Course Ministers said they would withdraw one million barrels daily of production -- around 3.5 percent of current supply -- from January 1 and meet again on January 30 to discuss whether further cuts were necessary.

oil production could plateau, some industry leaders believe, setting the ne yellestage for a period marked by energy shortages and high prices. OPEC's Divisions Rise to Surface As high crude prices fuel the economic boom in oil capitals, they're reigniting old divisions within OPEC, stirring doubts about the cartel's role

Stock Market Game ``Stocks are building up at a unreasonable rate, This is a preventative measure. It is enough to sharpen the market,'' said Algerian Energy Minister Chakib Khelil.

Furthermore, Opec oil supplies will peak in the beginning of the next decade, according to the International Energy Agency raising the risk of supply disruptions which could push the crude price as high as $130 per barrel. Who really knows, and the United States, China and India have huge reserves. Hence, carbon emissions will soar even faster.

Stock Investing Game The decision will disappoint consumer nations which have urged OPEC not to pull back from a surge in production, saying oil inventories must rebuild to underpin economic growth and calm volatile prices.

More oil may be found, but it may be difficult to extract. Gas can replace oil but again that won’t last indefinitely and although there is plenty of coal around the world it causes high pollution. Chinese and Indian economic growth will propel global oil demand and it will be Saudi Arabia, Iraq and Iran that provide most of it. According to the IEA non Opec oil supplies will peak in the beginning of the next decade. When this happens, the IEA suggests that crude price could escalate to $130 dollars per barrel. Carbon emissions may rise by more than 55%, accelerating climate change, and at the same time coal will become increasingly important. The United States, China and India have huge reserves of coal.

Journal Prime Rate Street Wall Prices are still around 30 percent above the start of the year although U.S. crude has dropped by nearly $13 from a record high of $55.67 a barrel in late October.

On Wednesday, owned security company blamed in the killing of two Iraqi Christian women amid rising calls for a crackdown on private bodyguards used by the U.S. government.

Stock Market News OPEC is cutting back in the heart of the northern winter, when heating demand peaks. Although heating stocks in major consuming centers are low, only sustained severe weather would put real strain on supply, analysts said.

Stock Investing Basics ``It seems like they've done enough to stabilize prices at current levels. I don't think they've done anything dangerous to the market,'' said Adam Sieminski of Deutsche Bank in London. U.S. crude was down 23 cents at $42.30 a barrel on Friday.

Stock Investing Software SAUDI FEARS

Stock Market Trading The Organization of the Petroleum Exporting Countries has been producing at the highest level in 25 years to meet rising demand in the United States and China and compensate for disruptions to supply from Iraq.

Stock Investing For Dummy OPEC wants excess oil removed from the market as it fears an out-of-season increase in oil stocks during the northern winter will weaken prices.

Stock Market Crash ``That's why we took the decision -- to avoid an extraordinary build-up in inventory levels,'' Saudi Arabia's Oil Minister Ali al-Naimi said.

Stock Investing Tip Seven of the 11 cartel's producers will reduce supply by around 5 percent each to make up the overall reduction. Iran, Venezuela and Indonesia will be exempt as they are pumping at or below official limits, while Iraq does not have a quota.

Stock Market Chart Top OPEC producer Saudi Arabia will shoulder half the total cut. The kingdom's planned 500,000 barrels per day reduction would take its output to around 9 million bpd -- still around 225,000 bpd above quota.

Online Stock Investing Iran and Kuwait have said OPEC's end-January meeting should consider cutting the overall 27 million barrels daily ceiling for the second quarter period when demand is seasonally weak.

Stock Market Crash Of ``Producer concern over a precipitous fall in prices is somewhat overstated,'' said the International Energy Agency (IEA), which advises industrialized nations on energy policy, in a monthly report on Friday.

Stock Investing For Beginner ``Capacity constraints, geopolitical uncertainty and demand growth will not disappear overnight,'' the IEA said.

Finance Journal Personal Although high prices have had little impact so far on oil consumption, world demand growth will slow next year because a squeeze on fuel supplies for Chinese power generation should ease, the IEA said.

Stock Market Report Prices are on course for their highest yearly average on record in nominal terms, but a fall in the dollar's value has eroded OPEC's purchasing power from oil sales, which are denominated in the U.S. currency.

Finance Investing Stock Market Reuters - 12/10/2004

Topic: Petroleum Industry

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