What's Behind OPEC's Production Hike?

Recent shifts in the oil market have driven the Saudis to want to cool things with a 500,000 barrel a day increase. So far, it hasn't worked

Until just before the Sept. 11 OPEC meeting in Vienna, virtually every prognosticator, including the OPEC chiefs themselves, tended to rule out any increase in oil production. So why did OPEC announce a 500,000 barrel a day increase beginning Nov. 1?

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