OPEC to increase oil production

[chenry@mail.la.utexas.edu (Clement Henry)]

Political tensions remain on the (potential) war front but the oil supply concern seems to have dissipated. OPEC appears to again be talking up a quota increase (as much as 3%) for the September meeting, although some members prefer the status quo. Another apparent release valve was the soothing lip service paid to the objective of maintaining an orderly oil market in the advent of war.

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