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OPEC Decision to Yield Limited Benefits.(Organization of the Petroleum Exporting Countries)
From:
Kiplinger Business Forecasts
| Date:
June 3, 2004
| COPYRIGHT 2004 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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Byline:Jim Ostroff
The decision by the Organization of the Petroleum Exporting Countries (OPEC) to raise production quotas will bring little short-term benefit to fuel consumers. In fact, both crude and gasoline prices are likely to remain at or above current levels at least through this month. The approach of the June 30 deadline for a transfer of power in Iraq has oil traders fearing more terrorist attacks on key oil installations in the Middle East. Prices will modera...
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