"We will first assess the impact of the measures that were decided on at the Doha meeting last month and if they serve the purpose of bringing stability in the global market, then we will not act. But, if these measures fail, then further cuts cannot be ruled out."
- The newspaper Arab News quoted Ali Naimi, the Saudi oil minister on Sunday as saying. He said that OPEC may need to cut output again when ministers meet in Nigeria on December 14 to stabilize markets.

"The only thing that has dragged prices back down is the weather. In the US temperatures are going to be almost tropical while the mild weather in Europe is going to continue."
- A broker said Monday as forecasts on Friday showed eastern US temperatures to be above average throughout most of the upcoming week with temperatures in New York up to 12 degrees Fahrenheit above the average for this time of year. In Northwest Europe, temperatures will range from zero to eight degrees Celsius above average for the next few days.