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Oil Prices Firm after weeks of slide

Anurag Bhullar


It seems that the steeps cuts made by Opec is finally making some impact with Oil prices firming up after reaching record low levels.


In a series of cuts the ministers of Oil producing countries had vowed to cut down on oil production by unprecedented levels and their effect is holding for the moment. However with the world still in throes of a recession that continues to deepen it is unlikely that the cost of Oil will go up significantly in the near future.


Interestingly a study last week found that oil prices were lower than the cost of bottled mineral water is available in India.

 
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