Oil Passes $57 a Barrel

March 16, 2005

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Oil prices scaled fresh highs on Thursday, forcing OPEC to consider a second output increase just a day after its deal to raise supplies failed to halt crude’s record-breaking advance. U.S. light crude set a high of $57.50 a barrel and at 1500 GMT was up 79 cents at $57.25.

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Oil Passes $57 a Barrel

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