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Technology Stocks : Game Changers and Market Movers

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From: Paul H. Christiansen	11/17/2014 11:18:16 AM
	of 686

Falling Oil Prices Test OPEC Unity As global crude prices plunged earlier this month, Venezuela’s foreign minister asked to see Saudi Arabia’s top oil official at a climate-change conference on Margarita Island, off the South American coast. Ali al-Naimi, the Saudi oil minister, was expecting a plea to reduce oil output and bolster markets. In anticipation, according to people familiar with the matter, he brought a message to Venezuelan Foreign Minister Rafael Ramirez : Saudi Arabia won’t cut production on its own. Mr. Naimi is expected to repeat the message to delegates at a meeting of the Organization of the Petroleum Exporting Countries in Vienna later this month, according to Saudi officials and fellow OPEC officials. At stake is whether OPEC, a group of some of the world’s biggest oil producers, can still operate as a global cartel amid infighting and expanded global production, notably from the U.S. shale-oil boom. A failure to broker a deal for a collective cut would weaken the group’s already-sagging influence over global prices. The complete WSJ article is available only with subscription . . . Falling Oil Prices Test OPEC Unity

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