OPEC Pact Reported Near: The agreement that...

OPEC Pact Reported Near: The agreement that could raise production for the rest of the year was discussed during a flurry of private bargaining sessions between ministers aimed at breaking a deadlock in their talks. The Qatar News Agency quoted unidentified sources as saying that the ministers were about to reach a deal on a higher production ceiling of 21 million barrels a day to begin Monday and run through year-end. But an evening meeting where delegates to the Organization of Petroleum Exporting Countries were expected to formalize the plan was abruptly postponed; officials said there were last-minute snags in negotiations. The meeting was scheduled to resume today. OPEC’s current output ceiling is 19.5 million barrels daily.