15.12.2011 - Oil price tumbles as OPEC raises output ceiling
Oil tumbled the most since September as the Organization of Petroleum Exporting Countries agreed to raise its production ceiling and as Europe struggled to contain the region’s debt crisis. Futures fell to a five-week low after OPEC decided on an output target of 30 million barrels a day at the group’s meeting in Vienna. Crude extended declines as the euro weakened to less than $1.30 for the first time since January on fear that European crisis will spread...............................................Full Article: Source
Print