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OPEC: An Oil Alliance Struggles Against Its Own Potential

Sep 22, 2017 | 23:41 GMT
For the sake of their economies, Russia and Saudi Arabia want a controlled end to production cuts.

Russian Energy Minister Alexander Novak (left) and Kuwaiti Oil Minister Essam al-Marzouq oversee the OPEC meeting in Vienna on Sept, 22, 2017. Members of the organization and its allies reviewed progress on their 2016 agreement to curb oil output.

(JOE KLAMAR/AFP/Getty Images)

OPEC's work to cut oil production may be finally starting to pay off. The oil-exporting organization and its allies have slashed output by about 1.6 million barrels per day (bpd) since the beginning of the year, helping to lift oil prices. And key producers, such as Saudi Arabia and Russia,...

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