"Oil prices fell to near $98 a barrel Wednesday amid signs OPEC may raise its crude production quotas at a meeting in Vienna.

By early afternoon in Europe, the benchmark oil contract for July delivery was down 90 cents to $98.19 a barrel in electronic trading on the New York Mercantile Exchange. The contract added 8 cents to settle at $99.09 on Tuesday."

The Associated Press had the story June 8, 2011. [2]

SEE ALSO:

"Saudis Face Opposition to OPEC Quota Increase" (Bloomberg)
[3]
"OPEC Split Over Increasing Oil Production" (AP) [4]

"As Oil Demand Rises and Unrest Continues, OPEC’s Power Over Prices Has Limits" (New York Times) [5]