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OPEC – Oil Production To Be Reduced To Raise Prices, Will U.S. Shale Producers Benefit?

McKittrick Tar Seep North of Highway 58

Oil prices jumped as much as two percent on Friday on word that OPEC producers have achieved around 92 percent of the output cuts they had pledged. Eleven members of the Organisation of the Petroleum Exporting Countries had agreed to pump less from January to raise prices. Previous such deals had much lower compliance – initially…

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