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Oil Prices Hit New Record of $50 a Barrel

NPR

By Jim Zarroli

Published September 28, 2004 at 12:00 AM EDT

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

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Jim Zarroli

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

See stories by Jim Zarroli

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