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Page added on September 29, 2006

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Oil May Rise as OPEC Considers Cutting Output to Bolster Prices

Crude oil may rise on speculation members of the Organization of Petroleum Exporting Countries will join Nigeria and reduce output to counter a 20 percent decline in prices during the past two months.

Seventeen of 42 analysts, traders and brokers, or 40 percent, said prices will rise next week, according to a Bloomberg News survey. Fourteen forecast prices will fall and 11 predicted little change. A week ago, 56 percent of respondents said futures would decline.
Bloomberg



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