OPEC to reduce production

They are apparently deciding that $60 is the right price. I do not know why $54.81 wouldn’t be the right price. See this graph at Forbes.com.

What has changed since last year that causes OPEC to raise the floor price?

Hugo Chavez is in front here, having already cut production. He’s trying to help poor people in the United States. The grifters rulers in Nigeria have lowered output in concert with Chavez. Such is OPEC’s leadership.