OPEC agrees to cut 1.2 million barrels a day to boost oil prices
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The agreement by OPEC members to cut oil production by 1.2 million barrels a day — that’s 1 percent of global production — sent crude prices climbing after it was announced. The global oil industry hopes things will continue to trend that way. The deal is meant to reduce the current oil glut and get us nearer to a balance between supply and demand.
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