Oil prices have reached a new record high of just under 140 dollars a barrel in New York trading.
The rise comes despite news that Saudi Arabia has agreed to raise production levels by 200,000 barrels a day to help push down soaring energy costs. Saudi Arabia is to increase production levels to a record 9.7 million barrels per day. However, market analysts said the Saudi move was not enough to soothe concerns about long terms trends in supply and demand.
(Deutsche Oil reaches new records despite production boosts ...
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