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Oil Prices Hit New Record of $50 a Barrel

NPR | By Jim Zarroli
Published September 27, 2004 at 10:00 PM MDT

For the first time, crude oil prices rise above $50 a barrel in world trading, despite efforts by OPEC to calm markets. The price is a response to the slow recovery of U.S. oil production following Hurricane Ivan in Florida and unrest in key producers Saudi Arabia, Iraq and Nigeria. Hear NPR's Jim Zarroli.

Copyright 2004 NPR
NPR News
Jim Zarroli
Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.