Oil Slips From Two-Year High Before Meeting of Arab OPEC Heads
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Crude oil fell from its highest in two years in London as the Arab members of OPEC gathered in Cairo for their annual meeting tomorrow.
The global market for crude oil is “very stable,” Qatar’s Oil Minister Abdullah bin Hamad al-Attiyah said today on arrival in the Egyptian capital. Brent crude climbed to its highest since October 2008 earlier today after a report yesterday showed confidence among U.S. consumers improved. Prices will extend gains next week, according to a Bloomberg News survey.