Oil producers say don't blame us for prices. OPEC holds major summit next month.

Leaders of the oil producing nations (OPEC) say the current spike in oil prices is not their fault. They point to financial speculators jumping into the futures market due to the slump in real estate and unimpressive stock market activity, as well as a much discussed lack of refining capacity. They may have a point, consider the wild fluctuations in prices lately as oil prices have see-sawed the last couple of years on their way from $40 to $93 a barrel. Tuesday oil prices fell more than $3 to end at just over $90. Today it's up more than $4!

OPEC leaders are meeting next month (Nov 17-18) in Saudi Arabia for only the 3rd summit in the organization's history. OPEC calls the meeting "a milestone event,"  designed to "devise ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations."

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- David Adams