OPEC Considers Adding Three Nations

Meeting in Venezuela yesterday, OPEC leaders held informal discussions on admitting Angola, Ecuador and Sudan into the cartel.
In addition to voting to keep its official oil production cap at 28 million barrels per day, OPEC discussed the possibility of expanding its bloc to gain a bigger marketshare. Saudi Arabian Oil Minister Ali al-Nuaimi: “We welcome any producing and exporting country that wants to join. The more, the better — because we are a great organization.”

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