Financial Times FT.com

Cartel is loath to take the blame

By Carola Hoyos

Published: June 30 2008 03:00 | Last updated: June 30 2008 03:00

This year, the Opec oil cartel is forecast to make more than $1,000bn, thanks to record prices that have doubled in the past year to $140 a barrel.

"We are richer than God," one minister is rumoured to have said.

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