Spike, then slump, in oil rattles Middle East

Oil holds above $74 after OPEC output unchanged
Oil prices held above $74 a barrel Wednesday in Asia after OPEC left output levels unchanged and a report showed U.S. crude inventories fell last week.

Oil stable as OPEC decides to not cut output
Oil prices were steady above $63 a barrel Thursday as investors looked to a weekly U.S. inventory report for signs crude demand may be recovering and after OPEC announced, as expected, that...

Production cuts unlikely after OPEC meeting
A jump in oil prices to six-month highs despite anemic world demand is working against hardline OPEC members advocating even costlier crude ahead of the cartel meeting.

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