Commentary by Eric Wilder – The consensus at OPEC’s latest meeting seems to be to keep their daily output of crude oil unchanged at 28 million barrels per day.  The world community has followed this meeting closely to see what Iran, OPEC’s second largest producer would do.  Threatened sanctions against Iran because of its nuclear energy policy have kept the price of crude oil high.  Today’s announcement indicates OPEC’s somewhat unexpected solidarity and this kept crude oil future’s above $68 per barrel on the New York Mercantile Exchange.

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