OPEC Holds The Price Line...For Now

In a world of economic unrest, wars and political uncertainties fuel consumption has dropped drastically and so has the price of oil. In a dramatic reversal the price of gasoline has tumbled and the members of OPEC are worried. Initially the oil cartel signalled a possible cut in production to help drive the prices back up. At the moment they have not done that. Though they desperately want the profits they are cautious about further damaging the world economy which could cause bigger problems.
The Organization of Petroleum Exporting Countries (OPEC) is a cartel of 12 countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.