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Archive Home > 2008 > December > 17 > OPEC likely to further reduce its oil output

OPEC likely to further reduce its oil output

By Jad Mouawad / The Bulletin
December 17, 2008

The OPEC cartel is preparing to announce its biggest oil production cut in decades, as producers struggle to contain a collapse in prices amid a global recession, Saudi Arabian and other OPEC representatives said Tuesday.

But that did not stop oil prices from falling again as the market focused....

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