OPEC leaves quotas unchanged - good news only for the short-term


OPEC chose to maintain current production quotas, arguing that better adherence to current quotas would be sufficient to support prices, which have plummeted about $100 to the $45-range in the past nine months as the global economy entered its first recession since World War II.

The bottom line regarding OPEC's weekend decision? Short-term, it's good news for U.S. consumers. Long-term, it's not as good news.