Myra Members of the Organization of the Exporting Countries are expected to leave their oil-production ceiling unchanged at their semiannual meeting on Friday, but what they decide not to do is equally important. Analysts widely expect the oil-producing cartel to stand pat on the 30 million barrels-per-day output ceiling it is had in place since 2012, even though various market estimates show that its members have been producing about one million barrels a day above that level. Talk ahead of the summit has been centered on OPEC’s desire to defend its valuable market share. The cartel left its production target unchanged at its last meeting in November, despite a plunge in global oil prices LCON5, -2.70% CLN5, -2.66% and some analysts fear that if OPEC stands pat again, that’ll condemn the market to an oil-supply glut for years . Retaining market share is obviously a key objective for OPEC […]