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06-02-2004

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Oil hits record high of $42 per barrel today on news of fighting in Saudi

http://www.iht.com/articles/522980.html

but .....

Quote:

, pledging to open oil taps ahead of a formal cartel decision on output quotas.
.
The United Arab Emirates said it would release an additional 400,000 barrels of oil a day as of this month, augmenting the 700,000 barrels a day being pumped by Saudi Arabia.

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