Expectation that production targets will be unchanged by OPEC have eased supply concerns, causing oil prices to dip. Light, sweet crude for October delivery fell to US$65.97 a barrel in electronic trading on the New York Mercantile Exchange, midmorning in Singapore.
Prompted by prices hovering around US$67 a barrel and high, Organization of Petroleum Exporting Countries seems likely to keep its current production quota steady when it meets on Monday in Vienna. Global production has been affected by leaks in BP's Alaskan oil pipelines, outages in Iraq and Nigeria and concerns over Iran's escalating nuclear standoff with the U.N. Security Council.
11-Sep-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}