Saudi Arabia to Boost Oil Production

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Saudi Arabia's oil minister says the country will boost oil production by 200,000 barrels a day next month.

The country's king says crude oil prices are quote, "abnormally high."

And OPEC may be concerned that if oil prices stay that way it will hurt the global demand for oil, which could hurt OPEC in the long run.

Some traders believe the world's demand for oil may already be starting to slow down -- and it could slow even more if prices don't come down soon.

But in the meantime -- oil prices have hit yet-another record high.

This time, it got close to $140 dollars a barrel.

That's a jump of more than $3.00 in just one day.

And the news from Saudi Arabia wasn't enough to calm investors.

They felt that was more than offset by reports of a falling U.S. dollar.

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