OPEC Not Indifferent At All

Saudi Arabia did its best - the OPEC powerful member appears to have persuaded even the most stubborn members of the OPEC to admit the proposal to raise its output quota by 1.5 mln barrels a day, at the meeting in Amsterdam on Saturday.
Only Venezuela and Iran do not seem to be concerned by high oil prices, and are going to argue the final decision should not be taken before OPEC?s next formal meeting in Beirut on 3 June.
US crude fell 45 cents to $40.09 a barrel, extending yesterday's losses which saw it dive more than a dollar after hitting a record $41.85 on Monday. In London, Brent crude fell 35 cents to $36.60.