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Organization of Petroleum Exporting Countries.


View Resource OPEC Slashes Oil Production

This week's In the News looks at the latest attempts by the Organization of the Petroleum Exporting Countries (OPEC) to curb record low oil prices. In an effort to lift prices from 1998 lows of ten dollars per barrel to eighteen dollars per barrel by April 1, 2000, OPEC ministers agreed to limit oil exports by 2.1 million barrels per day at a March meeting in Vienna. The so-called Hague pact...