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Key Opec members send ‘big message’ with higher oil production

Eight key members of the Opec alliance said Sunday they have agreed to again boost oil production, in a strategy analysts saw as a bid to gain a bigger market share of crude sales. Oil ministers in the V8 grouping – comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman – decided to increase production by 137,000 barrels a day (bpd) from next month, they said in a statement. Those countries had already increased production by 2.2 million bpd in...


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