OPEC agrees to cut oil production, as do Russia, Azerbaijan
Archived Articles 17 Dec 2008  EWR
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(RFE/RL, December 17) -- The Organization Of Petroleum Exporting Countries (OPEC) has announced a significant cut in oil production in a bid to lift falling crude prices.

OPEC and non-OPEC oil exporters have taken action that could remove up to 2.6 million barrels of oil from the market every day in an attempt to boost prices and, thus, the incomes of producers.

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