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Expectations of two million barrel OPEC oil cut grow ahead of meeting

Posted on 17 December 2008

From Canadianbusiness.com: Expectations that OPEC will slash oil production by as much as two million barrels a day firmed on Tuesday after Saudi Arabia suggested a reduction of that magnitude is likely.

Such a cut, while not unprecedented, would be considerable given that OPEC has already taken that much oil off the market since September in an attempt to stem crude’s slide….. Full Article: Source


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