The Saudis' Game Plan: Micromanage the Oil Markets

OPEC's leaders are trying to finely match supply with demand, as well as with economic cycles. History, however, is against them

A small dinner on the eve of OPEC's Jan. 17 meeting in Vienna brought together a handful of representatives of big producing countries, oil companies, and consultants. It broke up with a hearty toast to "higher prices."

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