OPEC to Announce 1.5-Million-Barrel Cuts Friday
CAIRO Saudi Oil Minister Ali al-Naimi said on Wednesday that
OPEC oil producers would this week announce an output cut of 1.5
million barrels per day in a bid to shore up flagging crude prices
amid a global economic downturn.
Asked if the ministers from the Organization of the Petroleum
Exporting Countries would announce the reductions at an emergency
meeting in Cairo on Friday, Naimi told Reuters: "Yes, we
will."
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