OPEC it seems is finally increasing production, which will perhaps relieve some pricing pressure. Not a big surprise to me. OPEC is walking a tightrope here. The economy is still in dire straights. Low gas prices have been a benefit in the recovery. If OPEC wants good SUV sales the prices must come down. Moreover, if OPEC wants to spur the US economy - or for that matter the world economy - back to life, oil prices need to remain low. I think they are now getting the picture.
Disclosures: None
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