Oil shifts down from record levels as OPEC stands firm
By Agence France Presse (AFP)
Friday, May 09, 2008
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Oil prices came off near record levels on Thursday after spiking close to $124 as the Organization of Petroleum Exporting Countries (OPEC) insisted that the market was well supplied and being driven by speculators, not real demand. Prices have rocketed by almost a quarter since the start of the 2008 on the back of tightening global.
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