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Commodities Briefing - Categorized | Oil, Regulatory more

OPEC ready to cut more oil to defend price

Posted on 05 February 2009

From Reuters: OPEC stands ready to cut yet more oil output at a meeting next month, its fourth reduction since September, to revive prices battered by the first demand drop in more than 20 years.

A cut of around 1 million barrels per day (bpd) could be discussed by the organisation’s ministers at their March 15 meeting in Vienna, an OPEC source said….. Full Article: Source


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