OPEC Cool to Call for Production Increase
RENEE MONTAGNE, host:
NPR's business news starts with OPEC saying no boost in supply.
(Soundbite of music)
MONTAGNE: Meeting in Vienna today, members of the oil producers cartel say they will not increase oil production. Washington has been pressuring the group to turn on the spigot some more in the hopes that might lower prices and ease pressure on the US economy. OPEC ministers say there's no reason to pump more oil. They say the run-up in prices is due to investors speculating in the market, and not fundamental problems with supply.
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