OPEC Action to Affect Gas Prices: Retail...
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From Times Staff and Wire Reports
OPEC Action to Affect Gas Prices: Retail gasoline prices at the pump will either rise or stay level the rest of the year--instead of falling as they normally do--as a result of the OPEC cartel’s agreement Friday to curb oil output, analysts said. Ministers of the 13-nation Organization of Petroleum Exporting Countries, which pumps more than a third of the world’s crude, agreed to hold output, which had risen to 24.6 million barrels daily in April, to 22.5 million barrels.
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