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Oil Output to be Reduced
« on: December 17, 2008, 02:54:11 PM »
Opec leaders are gathering in Algeria under pressure from Saudi Arabia to make their biggest ever single cut in output as prices plunge.

Saudi Arabia, the world's largest oil producer, predicts the cartel will reduce production by a 2m barrels a day at its meeting.

Saudi oil minister Ali al-Nuaimi said he expected Opec non-members to cut output by 600,000 barrels per day.

source: BBC

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