Source: OPEC members weigh hike in oil output by up to 1.5 million barrels

Cartel agreed on production cuts, to be effective Jan. 1; analyst suggests current discussions reflect reality that members won't cut production with Venezuela strike and threat of war against Iraq

Bruce Stanley

Associated Press Business Writer

OPEC members are debating whether to make an exceptional increase in oil output of up to 1.5 million barrels a day, in an effort to calm markets nervous about worsening unrest in Venezuela and a possible war against Iraq, a source at the cartel said Jan. 7. Such a hike in production would represent....

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