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(Plastemart) -- Oil prices have
dropped below USD 99 in Asia, amid signs of OPEC raising its crude production
quotas at a meeting in Vienna. Oil for July delivery fell to USD 98.6 on the
Nymex, while in London, Brent crude for July delivery dipped to USD 116.1 on the
ICE Futures exchange.
OPEC leaders have been split this week over whether they should raise
production. Saudi Arabia, the group’s biggest supplier, has supported a price
between USD 70-80 while Iran, the second-largest producer in OPEC, is against
any output hike.
mrcplast.com
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