Released: September 10, 2008

Forecast for heating costs drops a little

Source: Barbara Hagenbaugh, USA Today

U.S. consumers are expected to pay far more to heat their homes this winter than ever before, but recent energy price declines mean the tab won’t be as huge as earlier thought, the government said Tuesday.

The Organization of Petroleum Exporting Countries announced today from its meeting in Vienna that it would cut over-production by more than 500,000 barrels a day. OPEC members often exceed their oil production quotas. Curbing overproduction will tighten world supplies and may push prices up or stem their slide.

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