- Greek Cabinet Approves EU, IMF Bailout Bill
- We're Not Greece: Italian Prime Minister Monti
- Private Homebuilders in the US: Dead Men Walking
- Dividend Payout Could Hit Record Amount This Year
- With Investors So Bullish, Stock Pullback Must Be Ahead
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- New York Fashion Week Fall 2012
- NetNet: Why Saving Greece Could Destroy the World
- My Funny Valentine: When Love and the Fed Collide
- In Search of America's ‘Hottest Forecasters’
- Dow vs. S&P 500: Which is a Better Investment?
- Mick Fleetwood on the MP3 ‘Dumbing Down’ of Music
- Avis on the Road to Strong Growth: Analyst
- Private Homebuilders: Dead Men Walking
- LinkedIn’s Growth Is Already Priced In: Analyst
- The Real Reason Behind Bank of America’s Rally
- 5 Hedge Funds’ Top Stocks Soar After 2011 Rout
- This Valentine’s Day Love Is Served on a Silver Platter
MOST SHARED
- Greek Debt Saga Back on Center Stage for Markets
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- Special Feature: Wall Street History - How Wall Street Got Its Name
- Obama to Project $901 Billion Budget Deficit in 2013
- Private Homebuilders: Dead Men Walking
- When Love and the Fed Collide
- How to Trade the Turmoil in Greece
- Steelers' Antonio Brown Spends Super Bowl Week with Twitter Fan Turned BFF
- We're Not Greece: Italian Prime Minister Monti
- LinkedIn CEO Calms Post-Lockup Concerns
MOST POPULAR
HOT ON FACEBOOK
OPEC to Urge Members to Stick to Quotas
Text Size 
As oil ministers prepare to meet in Vienna Wednesday, there is little doubt that OPEC will keep production targets on hold.
 |
The main issue on the agenda of the 156th meeting will be compliance. Eleven of the 12 countries subject to production quotas, following OPEC's supply cut in December 2008, have been steadily raising production above their targeted level.
Despite the rise in production, data from oil services firm Baker Hughes indicated that OPEC countries are increasing drilling at the fastest rate in two-and-a-half years.
"The communique from this meeting will encourage members to adhere to production quotas," Prestige Economics said in its monthly energy report, after a number of studies found that OPEC members could be pumping over 2 million barrels a day above set targets.
With oil hovering close to $80 a barrel, it is trading in a region that OPEC likes. Oil ministers from Libya, Iran, Ecuador, Qatar and Kuwait have already indicated that Wednesday's meeting will leave quotas as they stand.
But the rhetoric around the tricky issue of compliance will set the tone for OPEC's next meeting, where an increase in output could certainly be on the cards.
- Marketing clichés aside, sometimes diamonds are for investing.
- The ‘Fast Money’ traders weigh in on fashion related stocks from apparel to footwear.
- This list of the 10 most active cities for speed traps was compiled by Trapster.com. See if your town is there.
- This Valentine’s Day should prove a love fest for restaurants, as many couples will be dining out.
- Here’s a look at Westminster Kennel Club’s most successful breeds—and how much they cost.
- What kind of homes do celebrity couples share? Here’s our updated list. Take a look.
Data is a real-time snapshot *Data is delayed at least 15 minutes
