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Saturday, November 14 - 2009

Saudi in 'mild' production cut

  • Saudi Arabia: Saturday, September 13 - 2008 at 10:46

Saudi Arabia has reluctantly agreed to a mild cut in oil output but the world's top exporter said it will do what it takes to keep the market balanced, AFP has reported. Analysts said Saudi is caught between Opec's hawks pressing for deeper cuts to shore up falling prices and US-led Western consumers demanding more supplies. Opec has recently cut crude production by 520,000 barrels per day.

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