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Commodities Briefing - Categorized | Oil, Price Watch, Regulatory more

Opec agrees deep cut in oil production

Posted on 18 December 2008

From Guardian: Opec ministers surprised the oil markets yesterday by agreeing to cut production more deeply than expected in a desperate bid to halt a free-falling oil price.

The petroleum exporting cartel, led by Saudi Arabia, promised to take 2.2m barrels a day out of the market in a move heralded by one analyst as “the end of the bear market”….. Full Article: Source


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