The Organization of Petroleum Exporting Countries promised last year to cut crude production by 4.2 million barrels a day. OPEC in the past has cheated on announced production cuts to keep oil money flowing, but so far that hasn't happened to the degree that was expected, Armstrong said. Still, signs that the world's biggest economies are struggling means that demand for oil will weaken, he said.Oil prices hold above $40 with aid package pending: Financial News - Yahoo! Finance
Tuesday, February 3, 2009
Oil prices hold above $40 with aid package pending: Financial News - Yahoo! Finance
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