Oil rises as investors weigh impact of OPEC moves Oil above $48 as investors weigh OPEC moves amid global economic slump
- George Jahn, Associated Press Writer - Tuesday March 17, 2009, 10:30 am EDT VIENNA (AP) -- Oil prices moved above $48 a barrel Tuesday amid growing confidence that OPEC's decision to ensure members comply with production quotas will support the market for crude. Still, persistent concerns over the global financial crisis were expected to exert moderate downward pressure on prices in the coming weeks.
