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OPEC Agrees to Cut Oil Output

From Bloomberg: OPEC Agrees to First Oil Output Cut in Eight YearsIn two days of round-the-clock talks in Algiers, the group agreed to drop production to 32.5 million barrels a day, the delegate said, asking not to be named because the decision isn’t yet public. That’s nearly 750,000 barrels a day less than it pumped in August....As OPEC agreed to limit its output, Russia smashed a post-Soviet oil-supply record, pumping 11.
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