Oil prices rose yesterday after OPEC vowed to eliminate overproduction in order to stick by its output ceiling and boost its members revenue. The market was also supported by hopes that the United States Federal Reserve would step in with new stimulus measures to bolster the world's largest economy, traders said. New York's main contract, light sweet crude for delivery in July, climbed 57 cents to $84.48 a barrel.
© Muscat Press and Publishing House SAOC 2012 Source: http://www.albawaba.com/business/crude-oil-price-429939
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