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Oil prices fall * USA - As OPEC calls emergency meeting
Oil prices extended their losses Thursday even as OPEC hinted it might cut output to halt the market's dramatic slide at an emergency meeting next month
New York,NY,USA -The Truckder/The AP, by STEVENSON JACOBS & George Jahn (Vienna,Austria) & Alex Kennedy (Singapore) -9 Oct 2008: -- ... At the pump, crude's decline pushed prices even lower. A gallon of regular shed 4.4 cents overnight to a new national average of $3.403, according to auto club AAA, the Oil Price Information Service and Wright Express. Prices peaked at $4.114 on July 17... Fearful that oil prices could fall too far and harm their petroleum-dependent economies, OPEC said it would hold an extraordinary meeting Nov. 18 in Vienna, Austria to discuss the widening economic crisis and how it's affecting the oil market... The 13-member cartel didn't mention a production cut but hinted that such a move may be coming, saying it would work "to ensure that oil market fundamentals are kept in balance and market stability is maintained."... (Fearful that oil prices could fall too far and harm their petroleum-dependent economies, OPEC said it would hold an extraordinary meeting Nov. 18 in Vienna, Austria to discuss the widening economic crisis and how it's affecting the oil market)Labels: oil prices
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