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Oil prices up to troublesome $80 per barrel
Last Updated: September 17, 2007 13:18
WASHINGTON. Record crude oil prices above $80 a barrel are “troublesome,” U.S. Energy Secretary Samuel Bodman said yesterday.
Oil futures rose to $80.18 a barrel in New York after a report yesterday showed a larger-than-expected drop in U.S. oil inventories. The rise follows Tuesday’s announcement that the Organization of Petroleum Exporting Countries would increase production .
The record prices underscore “how vital it is that we lower energy costs, cut oil consumption and make America more energy independent,” Senate Majority Leader Harry Reid said.
Oil futures rose to $80.18 a barrel in New York after a report yesterday showed a larger-than-expected drop in U.S. oil inventories. The rise follows Tuesday’s announcement that the Organization of Petroleum Exporting Countries would increase production .
The record prices underscore “how vital it is that we lower energy costs, cut oil consumption and make America more energy independent,” Senate Majority Leader Harry Reid said.
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