Market reactions to warnings that OPEC production was at its lowest point in two years, on production outages and self-imposed cuts, pushed oil prices above US$64 a barrel in Asian trading on Friday. U.S. government reports of diminishing domestic gasoline inventories at a time when demand is constant has further sustained oil prices.
Light, sweet crude for May delivery rose toUS$64.04 a barrel in electronic trading on the New York Mercantile Exchange midmorning in Singapore.
14-Apr-07 
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