O PEC-ing Away

When the Organization of Petroleum Exporting Countries (OPEC) meets next week in Vienna, they will help formulate a consensus about the future of global economic recovery. Recent weeks have brought some varied, but generally positive signals of economic recovery in the US while crude oil prices have remained near the range identified as “fair” by some of OPEC’s most influential voices. OPEC raised its 2010 demand projection earlier this week and despite assurances from some of the group’s oil ministers that production will remain unchanged, some speculation that rates may indeed change always remains an undercurrent on the eve of an OPEC meeting. Download here