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September 9, 2009

Oil Prices Rise Following Opec Meeting

Oil prices have risen to more than $72 a barrel following yesterday's meeting of Opec members in Vienna. Opec decided to leave production levels as they are and said in a statement that although there were signs of an economic recovery, there remained "great concerns" about its pace.

By cms admin

Oil prices have risen to more than $72 a barrel following yesterday’s meeting of Opec members in Vienna.

Opec decided to leave production levels as they are and said in a statement that although there were signs of an economic recovery, there remained “great concerns” about its pace.

US light sweet crude rose $0.85 to $72.16 in Asian trading, as the euro continued to gain ground against the US dollar in currency markets.

Opec countries supply about 35% of the world’s crude oil.

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