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The Water Cooler
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Oil prices. What a difference a week can make.
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<blockquote data-quote="dennishoddy" data-source="post: 4178401" data-attributes="member: 5412"><p>OPEC has seen the oil glut and is shutting down production by a couple million barrels a day to get those prices/profit back up. </p><p></p><p>In addition to Saudi Arabia, the following voluntary barrel-per-day production cuts were announced: Russia by 500,000; Iraq by 223,000; the United Emirates by 163,000; Kuwait by 135,000; Kazakhstan by 82,000; Algeria by 51,000 and Oman by 42,000, OPEC+ said.</p><p></p><p>The group also <a href="https://www.opec.org/opec_web/en/press_room/7265.htm" target="_blank">announced</a> after the meeting that Brazil, another major oil producer, will join at the start of next year.</p></blockquote><p></p>
[QUOTE="dennishoddy, post: 4178401, member: 5412"] OPEC has seen the oil glut and is shutting down production by a couple million barrels a day to get those prices/profit back up. In addition to Saudi Arabia, the following voluntary barrel-per-day production cuts were announced: Russia by 500,000; Iraq by 223,000; the United Emirates by 163,000; Kuwait by 135,000; Kazakhstan by 82,000; Algeria by 51,000 and Oman by 42,000, OPEC+ said. The group also [URL='https://www.opec.org/opec_web/en/press_room/7265.htm']announced[/URL] after the meeting that Brazil, another major oil producer, will join at the start of next year. [/QUOTE]
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