Ministers of OPEC Appear Still Mired
Oil ministers from the Organization of Petroleum Exporting Countries, apparently still mired in a dispute between members Iran and Iraq, held a single joint meeting Monday on their effort to drive up oil prices and then adjourned until today without comment.
Some delegates reiterated that they will reach an agreement soon, but there were no signs of a breakthrough in the fifth day of talks aimed at cutting production and raising oil prices to $18 a barrel. The talks bogged down Saturday after initial forecasts of a quick accord.
“It looks as if they’re settling into their old pattern,” said a longtime OPEC analyst from one of the major oil companies who is observing the meeting.
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