Forbes | Saudi Arabia, Russia Play Oil Markets Game, But Nobody's Laughing Forbes OPEC's on again and off again affair with media and global headlines is becoming common place as the 14-national oil exporting cartel, led by de facto leader Saudi Arabia, issues various potential oil production freeze or cut announcements with the ... Oil prices fall on higher OPEC output, rise in US crude stocks US crude settles down 61 cents, or 1.2%, at $50.18 as OPEC output climbs Oil Deal May Not Cut Production |