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OPEC Economic Panel Recommends Output Cut From October Levels



An Organization of the Petroleum Exporting Countries panel reviewing scenarios for the cartel’s meeting next week recommended cutting total output by 1.3 million barrels a day from October levels, officials familiar with the matter said Friday.

“According to the data we have, 1.3 million barrel a day cut would be efficient to balance the market,” said one OPEC official who attended the meeting of the Economic Commission Board, which does not set policy for the cartel.


Source : WSJ

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