With Saudi Arabia ramping up oil
production, prices are tumbling, and the world's petrotyrants — Iran, Russia
and Venezuela — are taking a hit. Seems the old high-price, low-production
tactic isn't foolproof. The Saudis don't seem to be interested in budging. As
prices fell to $83 a barrel for November-delivery crude, they've ramped up
production even as others call on them to stop. The first call came from fiscal
shambles Venezuela, for an emergency meeting of the Organization of Petroleum
Exporting Countries for a production hike. They were coldly rebuffed. More…
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