A small oil boost or noneeventually
As they begin to gather at a beach resort near Caracas, Venezuela, to set the world price of oil for 1978, the members of the Organization of Petroleum Exporting Countries are so deeply divided that it is not certain they can make a decision this week. Doubtless they will eventually erect a façade of unity, probably by agreeing on no price increase at all or a small one of 5% or less. The question is when. Last week Kuwait suggested postponing the meeting, possibly until April, to give OPEC diplomats time to heal the breach. At...
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