21.   Remarks from Saudi Arabian Oil Minister Ali Naimi that the return of Iraqi oil and increased production driven by higher investment may require OPEC output cuts fanned market bullishness.

22.   Tellez said he believes OPEC may extend its output cuts next year, if the market requires it.

23.   Some non-OPEC countries have said they would also go along with output cuts.

24.   Talk of an OPEC output cut, which helped lift oil prices Friday, continued anew Monday.

25.   The energy sector also advanced due to better economic prospects and speculation of an OPEC output cut.

26.   The next output cut that is needed is seen as being even more contentious than this one.

27.   Until an output cut is agreed on, analysts said oil prices are likely to continue to trade sideways, pushed and pulled mostly by technical factors.

28.   He said given the situation, an output cut and some firmness in prices would provide a temporary cushion for Indian producers.

29.   Iran is the second-biggest producer in OPEC after Saudi Arabia and the Iranian minister said he was hopeful that Russia would stick to its own output cuts.

30.   And on Wednesday, non-OPEC oil exporter Norway said it could reverse previous output cuts if oil prices remained high.