Crude Oil Prices Edge Up

Members of the cartel agreed to raise the group’s production quota by 2 million barrels a day in July and another half-a-million barrels a day in August, should that prove necessary. The current ceiling is 23.5 million barrels a day. Market analysts say the move is largely symbolic because the cartel’s members are already producing some 2 million barrels a day above their official quotas.

The Street