Crude Oil Prices Tumble As Saudis Signal Unilateral Production IncreaseThis was the story:
Energy prices fell June 10 with crude dropping 2.6% to less than $100/bbl on reports Saudi Arabia will unilaterally increase production targets by as much as 500,000 b/d after an acrimonious meeting of the Organization of Petroleum Exporting Countries earlier in the week.This was the date of the story: June 13, 2011
The price of oil closed today (June 14, 2011) at $99.59.
Yup, WTI crude is less than $100/bbl. Saudi has signaled that it will increase production.
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