US light sweet crude rose to US$72.1 in Asian trading, as the euro continued to strengthen against the US dollar, aided by OPEC decision to keep oil output unchanged. Since the market remains oversuppplied and given the downside risks associated with the extremely fragile recovery, OPEC has again agreed to leave current production levels unchanged for now.
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Friday, September 11, 2009
OPEC meet results in pushing crude oil prices past US$72
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