Crude prices recovered thanks to mixed signals from oil cartel OPEC.
New Delhi: Crude prices slipped to a five-month low touching $101.87 per barrel but recovered thanks to mixed signals from oil cartel OPEC.
As prices edged closer to the $100 mark, OPEC's President urged members to stop producing more than the group's set quota.
At a meeting in vienna on Tuesday, Saudi Arabian and Venezuelan Oil Ministers had signaled that OPEC would maintain production levels.
Reports that Hurricane Ike may bypass US oil regions also weighed on prices.
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