OPEC ends Cairo meeting without new output cuts (AP)

Saudi oil minister Ali al-Naimi is surrounded by journalists during the Organization of Arab Petroleum Exporting Countries (OAPEC) meeting  in Cairo, Egypt, Saturday, Nov.29, 2008. OPEC oil ministers downplayed expectations of, but didn't dismiss outright, an immediate output cut as they faced a third test in as many months of their ability to engineer a rebound in oil prices. (AP Photo/Amr Nabil)AP – OPEC ended a hastily convened meeting in Cairo Saturday without announcing new output cuts, despite the steep drop in crude prices and the threat it poses to member governments’ national budgets.

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