07.01.2009 - Opec cuts boost prices
From FT: Oil prices rose above $50 a barrel on Tuesday amid a growing belief that Opec is succeeding in delivering cuts in production. Oil traders have been largely sceptical about the cartel carrying out the three output cuts totalling 4.2m barrels a day it has announced since September. But preliminary evidence of lower supplies has now pushed prices higher..... Full Article: Source