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Sustained high prices contribute to fears of an economic recession similar to that of the early 1980s.56/barrel), amid Libya's threat to cut output, and OPEC's president predicted prices may reach $170 by the Northern summer.S.29/barrel for December futures in New York on November 21, 2007.71/barrel, for August delivery in the New York Mercantile Exchange (after the recent $140. In terms of the crude price, U. dollars) are equal to the previous all time inflation adjusted record of 1980.S.02 was reached on July 11, 2008. Then during 2004,the price rose above $40, and then $50.05 per barrel, and reached $110. Between 2004 and 2007, the profits of the six supermajors - ExxonMobil, Total, Shell, BP, Chevron, and ConocoPhillips - totaled $494.S. In response to falling prices, OPEC declared it was prepared to take action (such as coordinated reductions in supply) to maintain prices near $100. Outside the U.20 on March 12, 2008, the sixth record in seven trading days.Prices near $95–105 per barrel (2007 U., and "a hundred factors. As the price of producing petroleum did not rise significantly, the price increases have coincided with a period of record profits for the oil industry. The most recent price per barrel maximum of $147."At the start of SeptemberSome more useful information on commodity future online trading currency exchange trading
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