OPEC not expected to raise production despite record-high oil prices
The Associated Press, Vienna | Tue, 03/04/2008 4:23 PM
Key oil ministers are arriving in Vienna
for an OPEC meeting - and they're all but ruling out pumping more
oil to ease record-high prices.
OPEC President Chakib Khelil said the 13-nation cartel won't
consider boosting production when it meets Wednesday. Khelil says
the U.S. economic slowdown and slackening global demand for crude
will prompt the Organization of Petroleum Exporting Countries to
keep its current output steady.
On Monday, oil surpassed the all-time record of US$103.76 a
barrel when adjusted for inflation. (***)
