Crude prices surged into 2001, as the world's biggest oil exporter demanded action to support prices, and the US cold snap dumped one foot of snow on New York.
Published:
3 January 2001 y., Wednesday
In London, the price of Brent crude initially soared more than $1 a barrel after Saudi Arabia urged the producers' organisation Opec to back an output cut of 1.5 million barrels a day.
The call followed a meeting of Gulf states over the weekend which backed action to underpin oil prices.
A barrel of Brent crude for February delivery came within range of $25 a barrel on Tuesday before slipping to $24.35, a closing price 48 cents above Friday's closing price of $23.87.
In New York, the price of Nymex (New York Merchantile Exchange) crude reached $27.40 a barrel before settling at $27.40, a gain of 41 cents or 1.5% on the day.
Nymex oil prices in 2000 averaged $30.20 a barrel, the highest level since 1983, and well above the 1999 average of $19.25.
Šaltinis:
BBC News
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