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Opec output cut good news for SA

The decision by Opec to shed production during an informal meeting last month was good news for South Africa’s commodity producers. ||| Johannesburg - The decision by Opec to shed production during an informal meeting last month was good news for South Africa’s commodity producers, economists said Monday. Opec members proposed to limit production to between 32.5 million barrels per day (bpd) and 33 million barrels per day had driven up the oil price to above $50 (R692) a barrel from a record low at $28.
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