OPEC cancels planned meetingCartel agrees to make automatic increase in oil output ceiling Bruce Stanley Associated Press Business Writer
With the price of oil stuck above US$40 a barrel, OPEC agreed July 15 to raise its daily production target by 500,000 barrels, or 2 percent, in an effort to keep crude prices from lurching even higher.
The Organization of Petroleum Exporting Countries made the increase automatically, by mutual agre....
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Two-step increase agreed to in June Increase approved; meeting cancelled
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