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Will OPEC Reduce Production to Increase Oil Prices? Oil & Gas Industry Today Offers Latest News
In reaction to last week's decision by the International Energy Agency to release oil stockpiles, oil prices plummeted.
WASHINGTON, DC, June 30, 2011 /Environment PR News/ -- In reaction to last week's decision by the International Energy Agency to release oil stockpiles, oil prices plummeted.
While Saudi Arabia or Kuwait would be happy with lower prices, other OPEC members such as Iran and Venezuela would like to see oil prices rise.
Under pressure from OPEC, Saudi Arabia may not be able to increase its oil output by as much as it promised.
For more OPEC and oil & gas news see:
- OPEC Production News - http://oilandgas.einnews.com/news/opec-production
- Oil & Gas News - http://oilandgas.einnews.com/
- Latest Oil Price News - http://oilandgas.einnews.com/news/oil-pricing
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