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OPEC Surprises Market With Boost in Oil

Lends hand to world economy dragged by US credit-market crisis

By Caroline Zimmerman, Newser User

Posted Sep 11, 2007 8:36 PM CDT

(Newser) – OPEC surprised traders today by boosting oil production for the first time in a year, Bloomberg reports. Concerns over the U.S. market crisis dragging down the world economy inspired the spike of 500,000 barrels a day. The US reportedly prodded Saudi Arabia to... Read full story »

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OPEC Surprises Market With Boost in Oil

Lends hand to world economy dragged by US credit-market crisis

oil • OPEC • fuel economy • global economy • oil price • crude oil

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More Newser Stories

Oil Gushes to Record $105.96

A weakening dollar and falling inventories of oil are pushing crude prices up

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

Oil-Price Surge Fuels Global Investing Binge

Producers' deep pockets evident in Abu Dhabi's Citigroup outlay

All Eyes on OPEC for Oil Price Relief

Saudis expected to boost output as prices close in on $100

Oil Tops $99 as Dollar Sinks

Weak greenback and strong demand could send crude over $100 a barrel today

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