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One Big Barrel of Pathetic

Earlier this week, the Organization of the Petroleum Exporting Countries tried to aggressively assert its influence in order to raise the global price of oil. But its actions—and the reaction—were extraordinarily weak. OPEC announced on Wednesday that it would slash oil supplies by 700,000 barrels per day, or about 2.5 percent of its collective daily production of about 33 million barrels.
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