13.03.2009 - Oil trades near $47 after surging as OPEC weighs production cut
From Bloomberg: Crude oil traded near $47 a barrel in New York, after posting the biggest gain in three weeks yesterday, as OPEC prepares to meet this weekend to consider a fourth production reduction. The global oil market is oversupplied and OPEC will cut output if needed, Shokri Ghanem, who chairs Libya’s state-run National Oil Corp., said yesterday. Other ministers have called for the group to halt reductions..... Full Article: Source