OPEC boosts output target by 6.5 percent in bid to stabilize marketNominal crude output will rise 1.5 million barrels per day; just a month ago, members agreed to increase production by 1.7 million bpd; this increase temporary, will end when Venezuela strike ends Bruce Stanley Associated Press Business Writer
By boosting its nominal crude output by 1.5 million barrels a day, OPEC hopes to reassure markets roiled by a shortfall in Venezuelan exports and the possibility of war in Iraq.
The Organization of Petroleum Exporting Countries decided Jan. 12 at a meeting in Vienna, Austria, to increase its produc....
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Increase effective Feb. 1 Analyst: message confusing Market conditions deteriorating
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