By having a diplomatic meeting, they're ratcheting OPEC up one notch from a producers' cartel to a quasi-diplomatic organization. It's a rare occurrence.
More Quotes from Peter Gignoux:
What we're partly faced with is a temporary aberration. But even if we fast-forward to tomorrow after the contract change we're still at 30 a barrel - which is about 10 percent above the year's average.Peter Gignoux
OPEC should be terribly pleased. Its income has gone up mightily last year and this year.
Peter Gignoux
There are reports that all Iraqi exports are running normally. If the worry was that Iraqi exports would cease and they haven't, then there is nothing to worry about.
Peter Gignoux
What we're seeing this morning is in response to OPEC's comments and also some old-fashioned year-end book squaring. Oil prices rose sharply and then fell. The market is doing some to-and-fro action, where traders saw the fluctuations and thought about pulling back instead of buying at the higher prices.
Peter Gignoux
I would expect that they'd steer clear of the oil installations. They're fundamental to the oil-for-food process,
Peter Gignoux
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Based on Keywords: ratchetingI've always felt, in all my books, that there's a deep decency in the American people and a native intelligence - providing they have the facts, providing they have the information.
Studs Terkel
More people should apologize, and more people should accept apologies when sincerely made.
Greg LeMond
Words are not pebbles in alien juxtaposition.
Learned Hand