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Africa: Oil Hits Above $130 a Barrel

Africa: Oil Hits Above $130 a Barrel

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Crude yesterday rose above $130 a barrel for the first time on the New York Mercantile Exchange, amid concerns that the Organisation of Petroleum Exporting Countries (OPEC) will not boost output in the coming months to rein in prices, and that China will increase its oil imports in the wake of its earthquake.

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