The lid, if there ever was an effective one, is off oil production by OPEC members. Oil ministers last week, bowing to the wishes of oil superpower Saudi Arabia, placed a nominal ceiling of 23.65 million b/d on oil flow for the fourth quarter, about equal to present production, but set no limits for individual members. OPEC agreed to a ceiling of 22.3 million b/d last spring, but that has been ignored. The exporters still aim for $21/bbl for their reference basket of crudes, $1-2 more than

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