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With OPEC members not being able to agree on their need to raise production, oil prices have gone up again.
Prices closed at a four-month high. Their record was set in October with a closing price of $55.17 and an intraday high of $55.67.
According to an article at TheStreet.com,
"OPEC members appear divided about whether the cartel should agree to raise production by 500,000 a barrels. Both Saudi Arabia - the cartel's top producer and most influential member - and OPEC's president Monday said such an increase was possible, indeed likely, should prices remain at current levels. Saudi Arabia also said it will provide as much supply as possible by using its excess capacity.
Other members, including Libya and Iran - the cartel's second biggest producer - appear opposed."
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