trades in oil to reduce huge price swings in the commodity. Oil surged to an all-time peak of US$147 per barrel in early July before plunging back to around US$50 in recent weeks. The oil producing cartel said such volatility over only a couple of months proves the need for action to reduce the influence…
MARKETS: OPEC wants curbs on “speculative” oil trades
Posted on November 30, 2008 by EnergyAsia