Market watch: OPEC's preparedness to increase output staves off oil futures price increase

The continuing general strike in Venezuela as well as the looming threat of war against Iraq again forced futures prices for oil and petroleum products higher Friday on the New York Mercantile Exchange. But any gains made quickly were lost early Monday following the announcement by the Organization of Petroleum Exporting Countries that it was prepared to increase output to make up for any lost production, the Associated Press reported.

Send this story to:

Enter the email address of the recipient.
Separate multiple addresses with commas.

Add your own personal message:

Enter your email address:

Note: Your email address is used only to let the recipient know who sent the story, and in case of transmission error. Both your address and the recipient's address will not be used for any other purpose.