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Saudis argued in favor of increasing production to meet rising demand. Iran, Venezuela and other countries were opposed. The result was that no agreement was reached. The spare capacity of Iran and other countries opposed to increasing production is small. Analysts expect the Saudis to increase production unilaterally.
Wall Street Journal 06/09/2011
OPEC Keeps Lid on Oil Production Targets
New York Times 06/08/2011
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