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News Link • Economy - Economics USA

Oil prices rally above 91 dollars

Crude oil prices jumped above 91 dollars here on Monday as the market digested OPEC's move over the weekend to maintain the cartel's output levels.

Brent North Sea crude for delivery in January advanced by 91 cents to 91.39 dollars a barrel in London morning trade.

New York's main contract, light sweet crude for January, gained 68 cents to 88.47 dollars.

The Organization of Petroleum Exporting Countries (OPEC) on Saturday decided to leave production quotas unchanged at a meeting in Ecuador's capital Quito, stressing looming "risks to the fragile global economic recovery." 

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