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Opec leads oil search
- Thursday, August 02 - 2007 at 07:33
Opec members have stepped up their search for oil and gas while oil prices surged past record highs of more than $78 a barrel, the FT reported. Opec said its members operated 336 oil rigs in 2006, an increase of 11.5% since 2005, in response to strong demand from developing countries such as China and India. Saudi Arabia managed 75 rigs last year, the largest since Opec's records started in 1980.
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James McInerney, News EditorThursday, August 02 - 2007 at 07:33 UAE local time (GMT+4)
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