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OPEC, allies to execute record oil production cut

East Coast drilling exploration

The Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producing countries have agreed to cut almost 10 million barrels per day (mb/d) in oil production. The agreement will see participating countries adjusting their crude oil production by 9.7 mb/d from May for an initial period of two months. OPEC outlined in a release …

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