• • • • •

Crude-oil futures dropped Friday on a report that Saudi Arabia, the world’s largest petroleum exporter , is considering another increase in its oil output . To make any kind of impact on oil prices, the country would have to boost output by one million to three million barrels a day, closer to its full capacity, he added. Separately, the Organization of Petroleum Exporting Countries cut its forecast for world oil-demand growth this year, saying high oil prices are beginning to affect consumption in industrialized economies beyond the U. Cotton jumped, ending a strong trading week as bullish options pushed futures limit-up or near limit-up as July options expired, analysts said . read more

Technorati Tags: oil, , futures, july, contract, million, news