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Oil hits record $80 on tight supply |
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The News -
Economy
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Written by Administrator
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Crude oil prices vaulted to a record high $80 a barrel on Wednesday as dealers focused on tight inventories in top consumer the United States ahead of peak winter demand. A rash of fires at BP's oil fields in Alaska's North Slope added to the record run, though BP said the accidents had minimal impact to production that was already being curtailed by routine maintenance. The surge in oil prices came a day after OPEC agreed to a small production hike in an effort to soothe consumer nations' fears that soaring crude costs could slow economic growth. Source : Reuters Economy
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