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Saudi Arabia has already boosted its production by 300,000 barrels a day, or about 3 percent, to 9.45 million barrels a day last month. But that has had little impact on soaring prices. Oil futures in New York have gained more than 40 percent this year. They rose 2 percent to $134.62 a barrel before the meeting on Friday.
very interesting:
http://iamned.com/blog/
Posted by: stock market blog | June 23, 2008 at 12:33 PM
This is interesting as when compared to crowd sentiment tracked on sites such as www.piqqem.com, the result are quite reverse. I think the market is going to rebound and we have seen worst of it.
Posted by: Robert | July 17, 2008 at 07:36 PM