Crude Oil Markets Wait on Decision from OPEC
Speculation to what OPEC will do regarding its decision to increase daily production has added to the volatility in the crude oil markets. One trader told Crude Oil Futures Blog that the decision from OPEC will give the oil markets some needed direction. Although the markets are expecting an increase, there have been mixed messages from the members. OPEC will meet starting tomorrow in Abu Dhabi to decide on daily output for early 2008.
News out of Iran regarding nuclear production also weighed on oil markets.
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