The oil sheiks at the Organization of the Petroleum Exporting Countries (OPEC) must be at their wits' ends these days, with oil prices showing some downward pressure.
While the West Texas Intermediate (NYSE:WTI) spot is in the mid-$90.00 range, there's a sense we could see a downward move in oil prices, including gasoline prices at the pumps, on the horizon.
Over the past decades, OPEC's decisions were largely influential in determining the direction of world oil prices. This was done by regulating the production of oil out of the Middle East.
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