OPEC boosting output ceiling by 2 million barrels in JulyDecision no guarantee of more oil on market, since cartel already producing 2.3 million barrels above limit; increase will come over two months Bruce Stanley Associated Press Business Writer
OPEC’s decision to raise its output ceiling by up to 11 percent over two months may help soothe a nervous market, but it doesn’t oblige the group to pump a single barrel of additional oil.
The Organization of Petroleum Exporting Countries agreed June 3 to hike its production ceiling by 2 million ba....
[additional news subjects in this story]
Production already above current ceiling Saudis wanted increase at once Actual increase in supplies needed Prices have escalated
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