ust when fuel prices appeared headed for more reasonable levels, OPEC
has announced it will cut oil production by a million barrels a day – or about
4 percent, according to The Wall Street Journal.
Thursday afternoon, Oct. 5, in New York oil futures were trading at
just less than $60 a barrel at midday, down slightly from opening.
Ample supplies of oil and fuels have been cited as one big reason for
the recent decline in prices at the pump.