Light, sweet crude for November delivery rose by 17 cents to US$59.10 a barrel in early As ian electronic trading on the New York Mercantile Exchange. Oil prices edged up prior to the release of weekly U.S. petroleum supply data expected to show a decline of 900,000 barrels in distillate stocks.
In other development, OPEC plans to meet this weekend in Qatar to discuss production quotas. Some members have suggested a cut of 1 million bpd, the impact of which remains to be seen.
18-Oct-06 
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