OPEC May Start Negotiations To Boost Oil Prices

USA Today: OPEC ready to talk, boosting oil prices

Oil prices surged Monday, capping their biggest three-day gain in 25 years, as the Organization of Petroleum Exporting Countries suggested it may be ready to scale back output and the government cut its estimates of U.S. oil production.

OPEC said in an article that it "stands ready to talk to all other producers" to achieve "fair and reasonable prices." In its monthly OPEC Bulletin, the cartel added, "But this has to be a level playing field. OPEC will protect its own interests."

WNU Editor: One big reason for low oil prices is the slowing economy, and it looks like that is not going to change in the near future .... Oil extends losses on weak economic outlook (Reuters).