Expect Increasing Oil Prices - OPEC

OPEC Plans to Maintain Output, Consider Cuts in March

"The leaders will delay until March deliberations on a supply cut to bolster prices, which have slipped 8 percent from a record $100.09 a barrel on Jan. 3.

``If prices continue to fall as we've seen in Venezuela until now, then we'd probably be prepared to propose a cut at the next OPEC meeting in March,'' Venezuelan Oil Minister Rafael Ramirez told reporters in Vienna yesterday."


Awwwww, poor OPEC Oil Producers have suffered an 8% decline in the price of their product from peak.


Thank goodness we have GW to travel over there and ask them nicely (and fruitlessly) to increase supply.