Propped by enhanced consumer confidence in USA- as Americans get more confident about the economy, and indications that OPEC is complying with agreed cuts at record levels has pushed oil prices to four week highs. OPEC has reduced supply to a record high last month, implementing 84% of its agreed output cut. The average compliance rate is around 60%. Oil prices in New York rose by two dollars to settle at US$53.20 a barrel, while Brent crude settled at US$52.85.
04-May-09 
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