OPEC Plans Output Cut to Lift Prices
The Associated Press
LONDON - Moving quickly to buttress sagging crude oil prices,
OPEC announced Wednesday it would cut output by 1 million barrels
a day, or 4 percent of its official target level.
The news lifted the price of oil, with Brent crude for September
delivery rising 33 cents to close at $25.25.
The decision by all 11 members of the Organization
Read more on International Herald Tribune