[all4one]

Oil Vaults Over $54 on Winter Worries 26 minutes ago Business - Reuters By Toby Reynolds LONDON (Reuters) - Oil prices surged to record highs above $54 on Tuesday as supply hitches hindered efforts to build winter heating fuel inventories.

U.S. crude set a record $54.45 a barrel, marking a sixth successive day of all-time peaks, and by 1508 GMT was trading......Link to Full Article

UK Guy...I think that if there is a UAE announcement soon, it could show another reason behind the record high oil pricing.....I just don't buy the worries over winter heating oil etc.

[4thygipper]

UAE mulling hike in oil output, says Nasiri
BY N. SRINIVASAN

11 October 2004



ABU DHABI - The UAE is thinking in terms of raising its production of oil by 300,000 barrels per day (bpd) from its current level of 2.5 million bpd, in line with other members of the Organisation of Petroleum Exporting Countries (OPEC), Minister for Petroleum and Mineral Resources Obeid bin Saif Al Nasiri said in Abu Dhabi.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2004/October/business_October234.xml&section=business