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FUEL * UK - OPEC Says Oil Will Not Reach $100 Soon
OPEC said current record crude oil prices do not reflect the group’s objectives
London,UK -Bloomberg/Transport Topic (USA) -30 Oct 2007: -- OPEC has a “duty” to supply the world with oil at stable prices, OPEC President Mohamed al-Hamli at an oil conference in London. Al-Hamli is also the oil minister of the United Arab Emirates... If the market needs more oil, OPEC will supply it using its spare capacity of 3.5 million barrels a day, he said... OPEC “recognizes it has a responsibility” to ensure “stable” prices for producers and consumers, said in a speech... Crude oil set a record Monday, closing on the New York Mercantile Exchange at $93.53 a barrel, more than $1 over the $91.86 record set Friday. Thursday was the first time oil had closed at more than $90 a barrel...
* USA - Diesel Matches Record $3.157
USA -Bloomberg/Transport Topic -30 Oct 2007: -- The national average price of diesel fuel rose 6.3 cents to $3.157 a gallon, matching the all-time record set two years ago, the Energy Department said Monday... Gasoline, meanwhile, rose 4.9 cents to $2.872 a gallon and crude oil futures closed at a new record high of $93.53 a barrel on the New York Mercantile Exchange Monday... Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price... (Photo by Larry Smith/Trans Pixs: Gasoline Tanker Station)
Labels: fuel troubles
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