Oil price likely to be less volatile next year


PETALING JAYA: Oil price may remain stable going into 2007, barring extraordinary geopolitical issues such as a tightening in monetary policies of some global major economies, said economists. 

Crude oil price touched a high of US$78.40 per barrel in July this year on a combination of supply tensions in Iran arising from their nuclear plans, as well as production issues in Nigeria. 

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