Guessing game: What are OPEC nations thinking?
NEW YORK (AP) — OPEC produces one-third of the world's oil and — in theory, at least — can affect global oil prices depending on how much oil it decides to sell. In reality, OPEC member countries have different, often conflicting priorities and don't adhere to the cartel's official targets for production. When the cartel meets Thursday in Vienna, Iran and Venezuela are expected to call for a production cut in an effort to boost prices. Saudi Arabia, by far OPEC's biggest producer and most influential member, along with some of its allies, ...
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