10:44 AM
You think oil is high now....and thought it couldn't go any higher, well guess again. Not good news, but Chakib Khelil, OPEC President, predicts oil to hit $170 a barrel by the end of the year. Prices are up 38 percent this quarter. A comparison: oil was $11 - $17 per barrel in the first quarter of 1999.
Read the Bloomberg story
Leading oil figures gather in Madrid today to talk about the high prices. This four-day event is known as the World Petroleum Congress.