OPEC delays oil output decision pending Russia talks
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December 7, 2018
VIENNA (AP) — OPEC countries hoping to support the price of oil put off their decision Thursday on how much to reduce oil production until they negotiate with ally Russia on Friday on how much it will contribute to the cut.
Some saw it as a sign that the group of oil-producing nations may not have the political unity to rein in supply and is suffering under political pressure from U.S. President Donald Trump to not push prices up again. Others interpreted it as a tactic to get Russia to agree to big cuts as well.
The price of oil has fallen about 25 percent because major producers — including...
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