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Oil Hits Six-Month High Over $63 a Barrel
OPEC Ministers See Recovery in Demand
Oil reached a six-month high over $63 a barrel Thursday after OPEC predicted a demand recovery, Bloomberg reported.
Crude futures rose $1 to close the trading day Wednesday at $63.45 a barrel on the New York Mercantile Exchange, the highest closing price since Nov. 5.
Prices crept higher in pre-market Nymex trading Thursday, rising to as high as $63.62, Bloomberg said.
OPEC ministers meeting in Vienna, Austria, Thursday predicted an increase in demand, while agreeing to keep production levels steady, Bloomberg reported.