Keyword: floddedneworleans

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Keyword: floddedneworleans

Oil plunges below $51( Saudi is flodding the market )

01/16/2007 1:41:36 PM PST · by SomeoneNeedsToSayIt · 70 replies · 1,901+ views
http://money.cnn.com/2007/01/16/markets/bc.markets.oil.reut/index.htm?postversion=2007011615 ^

LONDON (Reuters) -- Oil prices plunged more than 3 percent back near $51 a barrel Tuesday after Saudi Arabia said OPEC production cuts were working well and that there was no need for an emergency meeting of the producer group.

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