The weekend saw crude oil prices rise to a new high of US$62 on concerns about refinery snags and following the release of a positive U.S. jobs report. Light, sweet crude for September delivery rose to US$62.31 a barrel, surpassing the previous settlement high of US$61.89 a barrel set on Tuesday. Meanwhile, in an attempt to cool surging oil prices, OPEC has increased oil production by 300,000 bpd in the last two weeks to around 30.4 million barrels daily
08-Aug-05 
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