OPEC enters meeting that could set direction of oil prices
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June 22, 2018
Officials from major oil-producing nations are expected to agree this week to boost output, but just how much they will open the spigot — and the effect on oil prices — remain wild cards.
Ministers from the Organization of the Petroleum Exporting Countries and non-OPEC nations led by Russia are meeting Friday and Saturday in Vienna, and it could be a difficult and uncomfortable gathering. The cartel's largest producer, Saudi Arabia, wants higher prices but hears President Donald Trump, leader of its most important ally, lobbying openly for lower prices.
Analysts expect the group will consider...
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