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OPEC Pumps Up Output in Bid to Curb Prices [View All]

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Eugene Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-07-05 01:23 PM
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OPEC Pumps Up Output in Bid to Curb Prices
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http://news.yahoo.com/s/ap/20050807/ap_on_bi_ge/kuwait_opec_oil

OPEC Pumps Up Output in Bid to Curb Prices

1 hour, 38 minutes ago

KUWAIT CITY - OPEC increased oil production by 300,000 barrels a day in
the last two weeks, to around 30.4 million barrels daily, in an attempt
to cool surging oil prices, the cartel's president said.

Sheik Ahmed Fahd Al Ahmed Al Sabah, president of the Organization of
Petroleum Exporting Countries, said in remarks carried by the Kuwait
News Agency on Friday that the market had begun returning to normal and
"prices (have) started to fall, especially after the smooth transition
of power," in Saudi Arabia.


more...

Please pay no attention to Friday's record close. :eyes:
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