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Oil prices rise
Saudi Press Agency Published in Saudi Press Agency on 14 - 01 - 2005

Oil prices rose on Monday on worries that production cartel OPEC could decide to cut output soon even after it kept output steady at its meeting over the weekend.
U.S. oil prices rose 77 cents to $47.95 a barrel.
London Brent crude was up 65 cents at $45.60.
The Organization of the Petroleum Exporting Countries kept production steady at its meeting over the weekend, but left the door open to shaving production later to contain a seasonal second quarter stockbuild. The group next meets on March 16.
OPEC ministers agreed on Sunday to keep output limits unchanged at 27 million barrels per day (bpd) as near-$50 prices put a hold on any second-quarter supply-tightening measures.

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