TODAY'S TOP STORY
Associated Press
VIENNA, Austria – OPEC said Wednesday it will
not put more oil on the global market despite near record-high prices for crude, blaming the U.S. for economic "mismanagement" it said was having a worldwide effect.
The 13-nation Organization of Petroleum Exporting Countries said it opted to maintain current production levels because crude supplies are plentiful and demand is expected to weaken in the second quarter.
OPEC President Chakib Khelil told reporters the global market is being affected by what he called "the mismanagement
of the U.S. economy," and that America's problems were a key factor in the cartel's decision to hold off on any action.
"If the prices are high, definitely they are not due to a lack of crude. They are due to what's happening in the U.S.," Khelil said. "There is sufficient supply. There's plenty of oil there."
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