OPEC Walks The Price Off Oil Up

February 19, 2008 by Douglas A. McIntyre

The OPEC ministers are talking lower oil supplies in the spring. Maybe they believe that global slowdown will cut demand. Or, perhaps they just like the profits from crude selling above $90.

Rumors of a cut on production sent oil prices for March delivery above $97. It may have to wait to the end of the week to hit $100.

Douglas A. McIntyre

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