Crude oil prices climbed slightly on the New York Mercantile Exchange Thursday after OPEC said it would leave production quotas unchanged.
The Organization of Petroleum Exporting Countries said it was "pleased to observe to positive effects" of its 4.2 million barrel per day production cut, initiated in September. The oil cartel said it would "maintain current production levels unchanged for the time being."
Crude oil prices gained 22 cents overnight to $63.67 per barrel. Heating oil prices gained 0.0001 cents to $1.5618 per gallon. Reformulated blendstock gasoline dropped 0.007 cents to $1.8847 per gallon. Natural gas prices lost 0.022 cents to $3.616 per million British thermal units.
At the pump, the average price for a gallon of regular unleaded gasoline was $2.449 Thursday, up from Wednesday's $2.434 a gallon, AAA said.
