Friday, October 17, 2008

Oil Falls Near $70 a Barrel, 16-Month Low, Alarming OPEC

Oil prices plummeted on Thursday, falling below $70 a barrel for the first time in 16 months, and prompting the OPEC cartel to call for an emergency meeting next week.The rapid decline in prices had alarmed petroleum executives and oil producers who are becoming increasingly nervous that it is undermining the stability of energy markets.

read more | digg story

No comments: