Oil prices on rise as demand grows; crude could spike above $30 a barrelInternational Energy Agency reports global demand growth of 1.3 percent in third quarter compared to 1998, U.S. demand growth of 6 percent in November Bruce Stanley Associated Press Business Writer
Even as demand for petroleum soars, global supplies have fallen since Iraq suspended oil exports and Iran curtailed production.
The resulting squeeze has boosted prices for petroleum products just as winter begins in some of the biggest oil-importing nations, the International Energy Agency reporte....
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OPEC members sticking to output More expensive refined products
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