OPEC will keep supply unchanged when it meets on Tuesday in Angola, Algeria's Energy Minister Chakib Khelil said on Sunday.
Carbon taxes discriminate against energy producing states so OPEC members oppose them, Algeria's energy minister said, adding his country was wary of European plans for huge solar power investment in North Africa.
Oil prices rose above $70 a barrel on Tuesday, snapping their longest losing streak since 2001, as traders bet that government data will show U.S. crude inventories fell last week and colder-than-normal weather will boost demand for heating oil.
Oil fell toward $74 a barrel on Monday as low demand for crude oil in the wake of the economic downturn continued to pressure prices, outweighing last week's strong U.S. job report.
Oil prices fell nearly $1 to below $76 a barrel on Friday, pressured by a stronger dollar which outweighed better-than-expected U.S. jobs data.
Oil prices fell for a third consecutive day on Friday, to below $76 a barrel, under pressure from high levels of inventories and nervousness ahead of the latest employment data from the world's top energy consumer, the United States.
Growing world oil use will likely outpace the rate of new supplies in 2010, eroding the huge stockpiles of crude which have mounted around the world since the start of the global economic crisis.
Oil prices clawed back some of last week's 1.4 percent losses on Monday and rose a dollar to above $77 a barrel, as a weaker U.S. dollar and improved sentiments over the economic outlook encouraged traders to push up crude prices.
Oil held steady above $79 a barrel on Thursday as the dollar held near 15-month lows against a basket of currencies, while investors waited for U.S. government oil data for direction before taking more positions.
Oil prices were steady above $79 a barrel on Thursday, as the market awaits U.S. government oil inventory data and watches the dollar, which is flirting with 15-month lows against a basket of currencies.
Oil prices rose slightly on Wednesday as the market weighed a rebound in the dollar against data showing strong demand growth from No. 2 consumer China.
Oil prices steadied on Wednesday as the dollar rebounded from 15-month lows, countering data showing strong demand growth from No. 2 consumer China.
Oil rose toward $80 on Wednesday, responding to a 15 month low in the dollar and robust Chinese demand growth and factory output.
Oil firmed above $79 on Wednesday as a 15 month low in the dollar diverted investors' focus from fundamentals, with weekly U.S. government inventory data being delayed by one day to Thursday.
Oil eased below $79 a barrel on Wednesday, as mildly bearish October loans data from China offset signs of robust industrial output and retail sales from the world's second-largest energy consumer.
The U.S. Energy Information Administration on Tuesday raised its forecast for OPEC crude oil production next year to 29.44 million barrels per day from its prior estimate of 29.19 million bpd.
Oil rose 3 percent toward $80 a barrel on Monday after Tropical Storm Ida forced the shut in of U.S. oil and gas production, helping to support prices.
Angola's oil industry is booming as money pours in after the end of three decades of civil war, and officials say output could increase by as much as two-thirds over the next five years.
Oil rose well over a dollar to more than $79 a barrel on Monday after Hurricane Ida forced the shut in of U.S. oil and gas production and Group of 20 talks sent equities up and the dollar down.
Oil rose more than $1 toward $79 a barrel on Monday after Hurricane Ida forced the shut in of U.S. oil and gas facilities, and on the outcome of Group of 20 talks sent equities up and the dollar down.
Oil rose more than $1 to above $78 a barrel on Monday after Hurricane Ida forced the shut in of U.S. oil and gas facilities and the outcome of Group of 20 talks sent equities up and the dollar down.
Oil rose more than $1 to above $78 a barrel on Monday, recouping some of the previous session's near 3 percent loss, on fears a powerful hurricane would cut U.S. oil and gas supplies and also lifted by the falling dollar.
