TC:Morning Read: Oil prices rise as OPEC rejects production increase
After flirting with the idea of raising crude output, OPEC has decided to keep production quotas as they are. The news caused oil prices to rise above $101 a barrel. Investors expected OPEC to increase production between 1 million and 2 million barrels per day. Saudi Arabia proposed incrasing production to lower costs to between $70 and $80 a barrel. Iran, Venezuela and Algeria refused the increase.
Thousands of residents are fleeing a town in Northwest Syria for fears of an attack from the army. 70,000 people have fled from Jisr al-Shoghour since Monday. Most of those staying in the town are young activists and Syrian soldiers who defected from the army. Reports say 200 tanks are positioned outside the town. On Monday, activists and the military clashed in the town resulting the deaths of 120 soldiers.
The Department of Commerce is encouraging businesses to bolster their online security from cyber attacks. The department's Internet Policy Task Force on Wednesday offered proposals to companies that conduct business online, and a plan to provide financial incentives to combat security threats. The Obama administration has been struggling to create a standard cybersecurity policy at the Federal level that could be used in the private sector.
The Boston Bruins won at home last night against the Vancouver Canucks, 4-0, to tie the Stanley Cup series, 2-2. Vancouver coach Alain Vigneault pulled goalkeeper Robert Luongo in the third period. Luongo made 36 saves in Game 1's shoutout, but gave up eight goals in Game 3. The teams return to Vancouver for Game 5 on Friday.
J.J. Abrams's new film, Super 8 hits theaters on Friday. His previous credits include the hit series Lost and the films Mission Impossible III and Star Trek. His new work is about a group of kids who are making a home movie, witness a train wreck and experience some odd happenings. He called the film autobiographical. "The original idea of the film was to set it in a time that was based on my own ridiculous experiences making really bad movies as a kid on Super 8," he said.
Taylor Swift won the video of the year at Wednesday's CMT Music Awards in Nashville. Fans selected her video for "Mine" as the winner. Swift was unable to attend the awards ceremony but she did thank fans for their support via live feed from Wisconsin. Blake Shelton won in multiple categories: male video of the year for "Who Are You When I'm Not Looking" and best Web video for "Kiss My Country Ass."
