Crude oil in New York hit yet another record above USD 117 this morning as Opec announced that it will maintain production, blaming the weak dollar and speculation for the high oil prices. The oil price rally is pushing up the other markets as well.
There is no shortage of oil in the market, secretary-general Abdalla el-Badri said yesterday in Rome, according to a Bloomberg report. Even if the production volumes were lifted, "we will not find people to buy the increment", the Kuwait state news agency cited president Chakib Khelil. The WTI crude oil contract for May delivery was seen at a high of USD 117.05/barrel in after-hours elec
Montag, 21.04.2008, 08:11 Uhr
Redaktion
© 2024 Energie & Management GmbH