Oil Up; OPEC Seen Keeping Output Steady
Oil prices were higher Wednesday following a report that OPEC is expected to keep output levels unchanged.
NEW YORK (
) -- Oil prices were higher Wednesday following a report that OPEC will keep output levels unchanged.
The Saudi oil minister said the oil market is enjoying "good demand, reliable supply, beautiful prices," the
Associated Press
reports.
A formal decision from OPEC is expected later Wednesday.
Oil ministers from the OPEC nations are generally OK with oil prices around $80 a barrel.
Oil prices rose Wednesday by 61 cents a barrel to $82.31 in electronic trading o Globex. The high for the session was $82.40.
-- Reported by Joseph Woelfel in New York.
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