Crude oil is trading higher in Sunday evening trading, showing more strength than any other futures contract. Traders are suggesting that $50 crude is right around the corner, especially if OPEC cuts production again next weekend. OPEC oil production cuts of 13% over the past four months appear to have put a solid floor under the price of crude oil.Sunday, March 8, 2009
Crude Oil Continues Its Climb Above $46
Crude oil is trading higher in Sunday evening trading, showing more strength than any other futures contract. Traders are suggesting that $50 crude is right around the corner, especially if OPEC cuts production again next weekend. OPEC oil production cuts of 13% over the past four months appear to have put a solid floor under the price of crude oil.
