OIL: Temporary Standoff at Bali

Compared with past meetings of the 13-nation Organization of Petroleum Exporting Countries, last week's session on Indonesia's storied tropical island of Bali was relatively pacific. But disagreement ran deep. After two days of trying to determine whether or not to end the nine-month freeze on world oil prices, the ministers were unable to reach a decision, which in the case of prices requires the unanimous support of member oil-producing nations. As a result, the price of crude oil will remain at its present levels, but for how long is by no means...

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