Monday, July 23, 2007

Oil falls, OPEC concerned about world economy

(Reuters) - Oil prices fell on Monday on expectations of higher U.S. refinery production and after remarks by OPEC that it is ready to pump more oil if needed.

London Brent crude, currently seen as more representative of the world market, slid 60 cents to $77.04 a barrel by 0807 GMT, after easing 3 cents on Friday. U.S. crude for September traded 42 cents lower at $75.37.


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