OPEC Idiots!

My God. Check out this headline today. People of the USA, stand up now and shut this idiots down! Walk for God's sake to the grocery store or anything under a mile and you will help shut OPEC down for good!

OPEC Says It Will Cut Oil Output

VIENNA — Stung by what it called “a dramatic collapse” in crude prices, the OPEC cartel said on Friday that it would reduce output by a steeper-than-expected 1.5 million barrels a day. But that action failed to brake the price decline, and oil dropped 5 percent more by the end of the day.

The oil cartel swiftly agreed to the cut in an emergency meeting at its headquarters here, and its president suggested afterward that still more production cuts were coming as OPEC struggled to get ahead of an economic slowdown so severe it could leave the world awash in oil.

The stunning decline of oil prices in recent weeks has left oil-exporting countries fearful that they will have to cut government budgets, including the popular social programs that cement many leaders’ hold on power.

Oil dropped to $64.15 a barrel on Friday, from a high close of $145.29 on July 3, a 56 percent decline in 16 weeks and one of the steepest in the oil markets.

If prices keep falling, OPEC’s president, Chakib Khelil, said the cartel would “definitely” reduce its production again in coming months, either when it meets in Algeria in December, or sooner.