Friday, June 10, 2011

Oil dips below US$99 amid signs of rise in OPEC production quotas at Vienna

Oil prices have dropped below US$99 in Asia, amid signs of OPEC raising its crude production quotas at a meeting in Vienna. Oil for July delivery fell to US$98.6 on the Nymex, while in London, Brent ccrude for July delivery dipped to US$116.

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