Oil prices to stay high into 2008

Oil prices will remain at high levels into next year owing to tight supplies and despite fears that a weak US economy may dent crude demand, leading energy consultants said here Monday. The Centre for Global Energy Studies also used its latest monthly report to attack OPEC, saying the oil-producing cartel had deliberately limited output in 2007 to prevent a sharp fall in crude prices, which last month almost reached a record 100 dollars."Although oil production at last appears to be rising, oil prices are expected to remain high over... CNA