Crude oil prices down as OPEC meets
New York -- Crude oil prices held under $74 per barrel on the New York Mercantile Exchange Tuesday, as OPEC oil ministers meet in Luanda, Angola.
Key figures in the discussion, including the Organization of Petroleum Exporting Countries' Secretary-General Abdalla El-Badri have said OPEC is content with the current price of oil, which has more than doubled since the start of the year. A change in production quotas is not expected at this time.
In New York, the price of light, sweet crude lost 23 cents overnight to $73.49 per barrel. Heating oil prices lost 0.0108 cents to $1.9344 per gallon. Reformulated gasoline prices rose 0.0032 cents to $1.8723 per gallon. Natural gas prices lost 0.059 cents to $5.61 per million British thermal units.
At the pump, the national average price of unleaded gasoline dropped to $2.585 per gallon Tuesday, down from Monday's $2.59, AAA said.
Copyright 2009 by United Press International.
