Crude oil prices touched $66 a barrel Thursday after International Energy Agency cut its outlook of output by non-OPEC producers.
IEA lowered its non-OPEC forecast by about 200,000 barrels a day, meanwhile, Citi group Inc. raised its oil-price forecast, saying there was no supply cushion.
Thus US light, sweet crude for September delivery rose to $66 a barrel during intraday trading on the New York Mercantile Exchange, the highest level since futures contract began trading in 1983.
London's September Brent oil futures setled up to $65.47 per barrel, the highest intraday price since 1988.
