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Oil Prices Fall as OPEC Considers Output Increase

Posted by Scott Boyd at 8:52 am UTC, 03/08/2011

Despite conflicting opinions amongst OPEC members, the market is betting the cartel of oil producers will increase production to meet shortcomings as Libyan crude oil output slows. The price of US light crude fell by as much as $2.11 to $103.33 a barrel in New York this morning, while Brent crude was down $2.25 at $112.79 a barrel.

Source: BBC News

Filed under: Forex Round Up, USD, EUR, GBP, CHF, JPY, AUD, CAD

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May
24
Today’s Global
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8:30am
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9.0%
USD
Core Durable Goods Orders m/m
1.1% vs. -0.8%
USD
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0.5% vs. -4.0%
9:00am
EUR
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3:00pm
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-0.5% vs. -0.5%
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