Opec agrees record oil output cut

The oil producers' cartel Opec has agreed to make a record cut in output, slashing 2.2 million barrels per day (bpd) from its current supply. Opec has made two other cuts since September, meaning it has cut a total of 4.2 million bpd in four months. (Snip) Opec said that it hoped the record cut would boost prices but that it had no formal price target...

[if only we had our own oil reserves to develop]

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