Financial Times FT.com

Oil tips over $100 mark

By Chris Flood in London

Published: February 19 2008 12:01 | Last updated: February 20 2008 00:33

Crude oil closed at a record high of more than $100 a barrel on Tuesday, against a background of supply ­problems and expectations that Opec would not increase production quotas at its next meeting.

Chakib Khelil, president of the oil producers’ cartel, appeared to rule out such a move on Monday, indicating that production would be either cut or unchanged.

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