Oil Prices Rise As Opec Fails to Cool Market

The JournalMay 13, 2004

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Summary


Oil prices shot to a new 13-year high yesterday amidst concern Opec may not be able to pump enough to meet demand.

London Brent crude rose another 13 cents a barrel to $37.49, while US crude futures reached up to $40.38, just $1 below their all- time high.

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Oil Prices Rise As Opec Fails to Cool Market

The trigger was oil cartel Opec, whose president effectively admi...

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