Some early forecasts are calling for an especially cold winter in parts of the United States, and cold weather will mean high heating bills for many. The price of oil reached a 10-year high in early September, and despite the recent pledge by the members of the Organization of Petroleum Exporting Countries to boost production by 800,000 barrels a day, prices are not expected to drop significantly in the near future. In addition, inventories of heating oil are at lower than normal levels, which could lead to shortages in some areas.
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