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Oil at record near $140 a barrel
by renovatio | June 16, 2008 at 08:58 pm | 80 views | add comment
by renovatio
US light crude rose to $139.89 a barrel, surpassing the previous high of $139.12 on 6 June.
The price later fell 25 cents to $134.61 at the end of New York trade.
On Sunday, Saudi Arabia said it would boost production by 200,000 barrels a day next month to meet growing worldwide demand.
That would make a total rise of 550,000 barrels a day, or over 6%, since May and would take Saudi output to its highest monthly rate since August 1981.
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June 16, 2008 at 08:58 pm by renovatio, 80 views, add comment
