Author Topic: Oil Rises First Time in Seven Days as OPEC Signals Output Cut; Bloomberg  (Read 1612 times)

Offline swanson

  • Standing In The Gap
  • Moderator On Leave
  • Survival Demonstrator
  • *
  • Posts: 2454
  • Karma: 303
  • "Don't let others live in your head rent free."
Oil Rises First Time in Seven Days as OPEC Signals Output Cut

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSyGBZbfdP_A&refer=worldwide#

By Gavin Evans

Dec. 8 (Bloomberg) -- Crude oil rose for the first time in seven days in New York after the Organization of Petroleum Exporting Countries’ president said there was consensus for a “significant” production cut when the group meets next week.

A “severe” cut may be needed to halt the decline in prices, group president Chakib Khelil told the Associated Press in a Dec. 6 interview. Slowing world economies will trim global demand growth to 0.2 percent next year, the International Energy Agency said Dec. 5.
Edited by SW, due to copyright issues -- please see here for Fair Use info.
« Last Edit: September 08, 2010, 08:13:37 PM by Sister Wolf »