The Asian region including Japan looks a little bit better, with its industrial production finally showing an increase," said David Cohen, director of Asian economic forecasting at Action Economics. The Organisation of Arab Petroleum Exporting Countries, some of whose members also belong to OPEC, met in Cairo at the weekend, when leading exporter Saudi Arabia reiterated its preference for a $70-$80 price range. Others said $100 would be fair and the global economy could withstand it. Oil has also found some support from cold weather across the United States and Europe. A blizzard across the US East Coast this week was viewed as mixed for markets as it bolstered heating demand but hit travel consumption by shutting airports and slowing road travel. (Reuters)