Oil prices hover around US$99 on news that Saudi Arabia plans to boost its crude production

13-Jun-11
Oil prices fell to hover around US$99 in Asia, after a report said Saudi Arabia plans to boost its crude production. Benchmark crude for July delivery fell to US$99 on the Nymex, while in London, Brent crude for July delivery dipped to US$118.56 a barrel on the ICE Futures exchange. Saudi Arabia is reported to be planning to increase production by 13% (about 1.14 mln bpd), to boost global supplies and help lower prices. Earlier last week, the Organization of Petroleum Exporting Countries failed to reach consensus to raise output and left the cartel's production quotas unchanged.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha
Reclamax single step plastic recycling machine

Reclamax single step plastic recycling machine