Friday, December 19, 2008

Oil Producers Call For More Price Stability


From Yahoo News/AP:

LONDON – The world's largest oil producers and consumers called for more cooperation Friday on measures to increase stability in oil prices and guarantee the investment necessary for future supplies.

Opening a meeting of ministers from 27 key oil-producing and consuming countries here, British Prime Minister Gordon Brown warned that a failure to tackle volatility in oil prices could cost the global economy trillions of dollars.

"Wild fluctuations in market prices harm nations all round the world," he said. "They damage consumers and producers alike."

Read more ....

More News On Oil And OPEC

Despite OPEC Decision to Cut Production, Oil Prices Slide -- Washington Post
Glut of oil creates short-term storage problems -- AP
Expiring January contract tumbles, under $34 -- Market Watch
Oil price falls on demand worries -- China View
Oil bulls and bears set to wrestle again on 2009 price trend -- L.A. Times

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