NEW YORK, Jan. 12 (Xinhua) -- Crude oil prices
rebounded as reports said OPEC is planning to make further cuts.
According to Dow Jones Newswires, OPEC is discussing
whether to hold an emergency meeting Jan. 20-21 and make an additional 500,000
barrel-a-day cut to the previously announced 500,000 barrel-a-day cut set to
begin Feb. 1.
After reaching a new 19-month trading low of 51.56
dollars earlier in the day, the main contract, sweet crude on New York
Mercantile Exchange rose 1.11 dollars to 52.99 dollars a barrel.
Brent crude on London's ICE Futures exchange rose
1.25 dollars to at 52.95 a barrel.
Crude prices at the New York market have lost almost
6 percent this week and around 13 percent since the beginning of 2007, due to
the historically warm winter in the Northeast United States and the rest of the
world.
Related stories:
China's refined oil price still lower
than int'l market
BEIJING, Jan. 5 (Xinhua) -- Despite the recent slump in
oil prices in the international market, the price of refined oil is still lower
in China than elsewhere in the world.
Jiang Jiemin, general manager of the China National
Petroleum Corporation (CNPC), made the remark here Friday at a gathering of
leaders of giant state-owned enterprises.
Report: Int'l oil price will not rise
markedly in 2007
BEIJING, Dec. 29 (Xinhua) -- The international oil price will not rise
markedly next year and will fluctuate between 55 and 65 U.S. dollars per barrel,
according to a report published by the State Information Center on Thursday.
Oil price rises responding to possible
OPEC production cut
NEW YORK, Dec. 1 (Xinhua) -- Oil prices rose again on Friday as OPEC may cut
its production in the coming weeks.
Crude oil for January delivery rose 0.30 dollars to
63.43 dollars a barrel on the New York Mercantile Exchange. The prices have
climbed from Monday's 59.26 a barrel, increased nearly 7 percent this
week.
