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OPEC woos other nations into production-cutting plan

Lewis Wallace Dec 9, 2016
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JOE KLAMAR/AFP/Getty Images

The Organization of Petroleum Exporting Countries agreed this week to cut production for the first time in eight years. That could mean oil prices will go up. But that depends on whether OPEC can convince a bunch of other non-cartel countries to agree to the cut. The cartel has invited 14 other countries to a meeting to discuss cuts this weekend in Vienna. So far, a handful have agreed to meet, including the big one, Russia.

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