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OPEC moves ineffective against price surge

WORLD oil prices climbed to fresh heights this week – exceeding US$57 per barrel and forcing the OPEC cartel to consider a second production increase after its first failed to halt crude's record-breaking run.

OPEC moves ineffective against price surge

US light crude set a record of US$57.60 per barrel on the New York Mercantile Exchange on Thursday, before easing to a last trade of US$56.30. London Brent crude, the European benchmark, also hit an...

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