OPEC says plenty of oil on market- About: Oil and Gas News

NEW YORK, NY, United States (UPI) — Organization of Petroleum Exporting Countries officials said there’s no need to boost oil production because a lack of oil isn’t causing record U. In the past, like two years ago when gas at the pump hit $2 a gallon, OPEC stepped in with more oil to ease the situation. But, now, says OPEC, there is ample oil on the market. OPEC’s new attitude, The Wall Street Journal said Friday, reflects a tug of war over how the profits from a barrel of oil are divided up between the world’s producers and refiners. For extended discussion and debate join M&C’s community forums . read more

[Tags]oil, , opec, u, 2, ago, oil and gas news[/Tags]

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