OPEC

OPEC cut its forecast for world oil demand in 2009 further on Friday but said the worst appeared to be over for the market, adding to signs of a turning point in the outlook for oil.

Oil prices extended a three-day rally to near $73 a barrel on Thursday on rising hopes the recession has bottomed out, spelling a recovery in ailing world energy demand.

World oil demand will contract by less than previously expected in 2009, the International Energy Agency said on Thursday in a further sign the economic outlook may have stopped deteriorating.

Oil prices surged to a seven-month high near $72 a barrel on Wednesday after a U.S. government report showed a slowdown in crude imports eating away at inventories in the world's top energy user.

Oil topped $71 a barrel on Wednesday for the first time in seven months on signs demand for crude could be recovering, with U.S. inventories falling by more-than-expected last week and the Department of Energy raising its forecast for global demand.

Oil rose toward $69 a barrel on Tuesday, snapping two days of falls, as the U.S. dollar steadied below three-week highs and ahead of weekly stocks data forecast to show a fall in U.S. crude inventories.

Oil rose toward $69 a barrel on Tuesday, snapping two days of falls, on a weaker U.S. dollar and ahead of weekly stocks data forecast to show a fall in U.S. crude inventories.

Oil prices slipped toward $68 a barrel on Monday, pressured by a stronger U.S. dollar and weakness on Wall Street.

Oil prices rose slightly on Monday as dealers expected U.S. inventory data this week to show a decline in stockpiles, but gains were limited by a stronger dollar and weaker equities.

Oil slipped toward $68 a barrel on Monday as a stronger dollar and weaker equities prompted a retreat from last week's seven-month high above $70.

Oil fell by $1 toward $68 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.

Oil fell by $1 toward $67 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.

Oil fell by $1 toward $67 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.

Oil fell on Friday as traders took profits from a rally to a seven-month high over $70 a barrel after U.S. employment data showed a slower pace of job losses.

Oil slipped back after touching a seven-month high over $70 per barrel on Friday as U.S. employment data showed a slower pace of job losses.

Oil hit a seven-month high above $70 per barrel on Friday after much better-than-expected U.S. employment data pushed stock markets higher.

Oil rose above $69 per barrel on Friday, within striking distance of a seven-month high, supported by a rally in stock markets and expectations that the global economic downturn might not be as severe as expected.

Oil prices hit a seven-month high on Thursday after U.S. data showed a drop in jobless claims, boosting expectations of an economic recovery that could revive ailing energy demand.

Oil prices rose more than 5 percent to a seven-month high above $69 a barrel on Thursday after U.S. data showed a drop in jobless claims, boosting expectations of an economic recovery that could revive ailing energy demand.

Oil prices rose nearly 5 percent to a seven-month high above $69 a barrel on Thursday after U.S. data showed a fall in jobless claims, raising expectations of an economic recovery and increased demand for oil.

Oil rose on Tuesday as U.S. pending home sales data added to optimism the economy may be turning around, boosting expectations of a rebound in fuel demand.