Morning briefing: With oil falling toward $70/barrel, will OPEC restrict production?
1. European Central Bank council member Axel Weber said stimulus measures, including unlimited lending to banks, should be kept in place at least through the end of the year. The euro fell to its weakest level against the dollar in five weeks.
2. In the Chinese government's latest attempt to cool down its real estate market, the Ministry of Land and Resources said it will accelerate efforts to stop hoarding and misuse of land by property developers.
3. U.S. petroleum stockpiles have grown to their largest in two decades, leading analysts to predict that oil may fall below $70 a barrel and OPEC may be forced to restrict production.
Ariana Eunjung Cha
August 20, 2010; 8:19 AM ET
Categories: *Morning briefing
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