OPEC unites against Venezuelan extremism

The Organization of Petroleum Exporting Countries (OPEC) is uniting against the latest Venezuelan attempts to use the oil cartel as a weapon against the US and its traditional allies.

OPEC's move is a double embarrassment to dictator Hugo Chavez, because the rebuke occurred on Venezuelan soil.

Meeting in Caracas, OPEC ministers quietly but firmly dismissed their host's attempt to cut oil production drastically in an effort to cause a price spike, the Financial Times reports.

According to FT, the Venezuelan dictator "angered OPEC ministers with anti-US rhetoric as they united against him in rejecting his call to cut the oil cartel’s production."