OPEC Is Ready To Embrace $100 Oil

OPEC has signaled it may actually be fine with oil at $100 after several cartel delegates said there were no plans to accelerate production growth despite soaring prices. Brent crude briefly topped $99 today after Russia’s President Vladimir Putin signed a decree recognizing the independence of the two eastern Ukrainian regions of Lugansk and Donetsk and ordered army forces to enter them for peacekeeping purposes, the Kremlin said. According to a Bloomberg report published later in the day, OPEC delegates from Iraq and Nigeria said they saw…