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Iran Studies Plan To Cut Crude Output

Posted on May 14, 2008

The BBC is reporting Oil hits new high on Iran fears.Oil prices have hit a record just shy of $127 a barrel after Iran said it was studying a plan to cut crude output. President Mahmoud Ahmadinejad said a proposal to reduce Iran's crude output was being reviewed by experts, Iran's Fars News Agency reported.Analysts doubted whether Iran would actually cut output but the report sent jitters through oil trading floors. That sounds like it would get people excited, said Peter Beutel, president of Cameron Hanover. Tanker Prices SoarFlashback May 2Super tanker prices are soaring as Iran Doubles Oil...

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crude , oil , output , petroleum , refinery