Oil Prices Resume Sliding despite OPEC's Production Cut

19 December 2008 @ 09:12 am EDT

Oil prices have been on the fritz lately; inexplicably dropping in value after the Organization of Petroleum Exporting Countries (OPEC) announced its supply cut and then quickly rebounding during early trading hours the next day. More recently, the price of Crude Oil has resumed falling back towards $40 a barrel, dipping as low as $41.54 yesterday. Apparently, expectations are low for OPEC to actually follow through with its production cut.

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