Lowest Oil in Twenty Months
Source: http://Blog.QualityStocks.net/?p=13812Posted on Wednesday, November 12th, 2008 | In Small & Micro Cap
Contributed by: QualityStocks (http://QualityStocks.net) -
Crude oil dipped below $57 a barrel on Wednesday, trading at its lowest level since March 20th, 2007. As a result of the four percent decrease, the government begrudgingly reduced its forecast for demand yet again. OPEC officials also alluded to the possible necessity of further production-rate cuts if prices continue to fall. Another OPEC cut could lead to a boost in the price of oil and gasoline, but for the moment, Americans are enjoying relaxed pricing at the pumps.
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Tags for this Post:
crude oil, Oil, Organization Of Petroleum Exporting Countries, Small & Micro Cap, USD
crude oil, Oil, Organization Of Petroleum Exporting Countries, Small & Micro Cap, USD
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