Saturday, February 2, 2008

OPEC to World: No More Oil for You!

OPEC high cost of oilAccording to OPEC, oil production is not going to be increased. At their recent meeting in Vienna, they decided that the current oil production level is just right for them:
In view of the current situation, coupled with the projected economic slow-down, the Conference agreed that current OPEC production is sufficient to meet expected demand for the first quarter of the year.
So, output will NOT be increased, supply will remain tight and prices near all-time highs.

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