OPEC boosts output target, oil prices riseAnalysts call move purely symbolic, since cartel already exceeding higher quota; oil prices shoot up by $1-plus after announcement Edith Balazs Associated Press Writer
OPEC agreed in mid-June to increase its production quota by half a million barrels a day, though the move was deemed inconsequential by analysts and oil prices shot up by more than $1 a barrel.
The Organization of Petroleum Exporting Countries said its output ceiling will rise from 27.5 million bar....
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