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The Organization of the Petroleum Exporting Countries on Wednesday committed its fractious members to their first oil production limits in eight years. Now comes the hard part.
OPEC has agreed to cut production by about 1.2 million barrels per day, or about 4.5 percent of current production, to 32.5 million barrels per day. Top oil exporter Saudi Arabia faces the unenviable tasks of policing cartel members and keeping crude prices within a range that will relieve pressure on oil-producing countries' economies, but which will dissuade non-OPEC producers from increasing output.
2016.11.30 / 21:13