Riding the rails to $100 oil

NORWALK, Conn. (MarketWatch) -- Recent meetings of the Organization of Petroleum Exporting Countries have been relatively benign, but when oil ministers meet in Vienna on March 8, you can bet they'll have more on their minds than shopping for chocolate or taking in the sights.

In recent years, these meetings have been watched very closely. How much more so now, with the spike in oil prices and all that's been happening in the world.

Many analysts, including yours truly, believe that the OPEC ministers will tighten production and drastically cut into supply at the next meeting. Gone are the days of easy cheap oil. They've been replaced by strained relations, war, and geopolitical worries over nuclear development, among other things.

We forget OPEC is a cartel, and like all cartels they have one primary goal: to make money and lots of it.

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