Oil prices ease on OPEC assurance

26-Feb-05
OPEC has announced that it will act to cool oil prices if they kept rising, easing crude oil futures. If the prices rise any further, then there will be a reaction from Opec to help lower these prices. Despite OPEC reassurances, the market remains sceptical. IPE Brent for April delivery slipped to US$48.51 a barrel in London trade, after rising more than 4% in the previous session.
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