Light, sweet crude for April delivery dipped to US$57.36 a barrel in Asian electronic trading on the New York Mercantile Exchange as of midmorning in Singapore.
Oil prices slipped below US$58 after the Organization of Petroleum Exporting Countries (OPEC) decided to leave output targets unchanged at existing levels, as expected. OPEC seems to be satisfied that two recent rounds of output cutbacks have helped boost sagging oil prices and balance global oil markets. OPEC has, however, about continuing oil price volatility in 2007. OPEC has agreed to meet again on Sept. 11 to review market conditions.
16-Mar-07 
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