OPEC

U.S. stocks were flat on Tuesday as continued turmoil in Libya indicated a quick resolution to the unrest in that country was not on the horizon and a drop in oil prices failed to ease investor worry about the economic recovery.

Oil prices fell on Tuesday, with North Sea Brent crude dropping more than $2 a barrel briefly after Kuwait's oil minister said OPEC was considering boosting production for the first time in more than two years.

U.S. stock index futures pointed to a flat open on Tuesday as more turmoil in Libya indicated a resolution was not close and a drop in oil prices failed to ease investor worry about the economic recovery.

Stock index futures rose on Tuesday as oil prices pulled back on prospects of an OPEC production hike after recent turmoil in the Middle East and North Africa caused a spike in prices.

OPEC is in consultations regarding a potential boost in oil output but hasn't decided whether to approve one, Kuwait's Oil Minister said on Tuesday.

Oil fell from recent highs on Tuesday on reports that OPEC may boost production, prompting some recovery on equity markets.

Members of oil cartel OPEC are joining Saudi Arabia in raising output to cool soaring prices and allay fears of a supply crunch in the West, the Financial Times newspaper reported on Tuesday.

OPEC member Algeria is concerned about Libyan supply disruptions but sees no physical crude oil shortages globally, the country's oil minister said on Monday.

There are no good outcomes, only bad, really bad, and catastrophic. Take your pick. Could gas prices drop below $3.00 per gallon if the world sinks back into recession? Yes. But it would only be momentary. The easy to access supply is dwindling. The medium and long term direction of gas at the pump is up. There is nothing that can be done in the next five years to prevent significantly higher oil prices.

Stocks fell on Monday, weighed down by a downgrade of the semiconductor sector and worries about the effect of higher oil prices on the economy, which is unlikely to change soon.

Stock index futures rose on Monday, indicating Wall Street will recover from Friday's losses even as oil prices continued to spike on unrest in the Middle East and North Africa.

Troops loyal to Muammar Gaddafi have launched counter-offensives against rebel-held towns, increasing fears that Libya is heading for a civil war rather than the swift revolutions seen in Tunisia and Egypt.

Muammar Gaddafi struck at rebel control of a key Libyan coastal road for a second day on Thursday but received a warning he would be held to account at The Hague for suspected crimes by his security forces.

Oil rose on Wednesday as escalating violence in Libya threatened the OPEC nation's oil infrastructure and markets braced for a potential prolonged disruption.

OPEC output fell in February from a two-year high the previous month as the uprising in Libya curbed supplies from Africa's third-largest producer, even as Saudi Arabia pumped more, a Reuters survey showed on Tuesday.

Crude output in Libya has fallen to levels significantly below its normal 1.65 million barrels per day (bpd) output, and well below its 1.47 million bpd OPEC production quota in the aftermath of violent anti-government protests, according to a senior energy analyst at IHS Global Insight.

India's budget belied expectations of cuts in fuel taxes on Monday, denying any relief to state-run oil firms but boosting chances of a planned ministerial meeting taking up the issue of raising prices soon.

Demonstrators blocked roads to a main port in northern Oman and looted a nearby supermarket on Monday, part of protests to demand more jobs and political reform that have spread to the sultanate's capital.

Oil prices advanced on Monday as protests in Oman raised concerns about supply from the Middle East, though world stocks rose and were on track to post their third straight month of gains on an improving growth outlook. Copper prices extended the previous session's 3 percent gains after an earthquake in top producer Chile, though benchmark U.S. 10-year Treasuries were also in demand, sending yiel...

Oil rose more than $1 a barrel to over $112 on Friday as unrest in Libya sparked fears of supply shortages, despite assurances by top oil exporter Saudi Arabia that it would step in to fill any shortfall.

Oil eased below $111 on Friday as top world exporter Saudi Arabia sought to assure key importers it would fill any supply shortfall left by beleaguered fellow OPEC member Libya, soothing fears over a disruption in supplies that had carried prices to a 2-1/2-year high a day earlier.