Crude prices remained above $50 per barrel Monday after the president of OPEC said the group would address rising demand by increasing its daily production by 500,000 barrels beginning next month.
Light, sweet crude for May delivery fell 12 cents to $50.37 per barrel on the New York Mercantile Exchange, where prices traded as high as $51.24 and as low as $49.66. Brent crude for June fell 83 cents to $50.78 on London’s International Petroleum Exchange.
