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FUEL COST TROUBLES * USA - Oil Tops $140 for First Time
OPEC President Chakib Khelil: "Oil could reach as high as $170 a barrel later this year"
New York,NY,USA -Bloomberg/Associated Press/Transport Topics -26 June 2008: -- Oil hit a new record Thursday, topping $140 a barrel for the first time as the U.S. dollar declined and OPEC officials warned of higher prices... The previous New York Mercantile Exchange closing price record was $138.54, set on June 16... OPEC President Chakib Khelil, who is also Algeria’s Energy Minister, said oil could reach as high as $170 a barrel later this year... Meanwhile, the head of Libya’s national oil company said the country may cut crude production because the oil market is well supplied... (Photo by Edouard Gluck/Blooomberg News)Labels: fuel costs troubles
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