Stocks decline The crude price decline had a predictable effect on the stocks of energy companies.
High crude prices and the inevitable rise in prices at the pump had begun to generate political noise. Sen. Charles Schumer, D-N.Y., said last weekend that he would ask the Energy Department to study possible sales from the reserve to dampen further price increases. But independent surveys showed that OPEC members had produced 26.3 million barrels of oil during September, up 70,000 barrels from August. Compliance with production quotas had declined from 89 percent in August to less than 88 percent a month later. But the market has gotten ahold of itself.