OPEC’s pressure from forces redrawing global oil map has left them evermore dependent on Russia’s support while also subject to Trump’s opposition AFP / JOE KLAMAR
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OPEC finally broke an impasse over production curbs, agreeing on a larger-than-expected cut with allies after two days of fractious negotiations in Vienna. The cartel and its partners agreed to remove 1.2 million barrels a day from the market, with OPEC itself shouldering 800,000 barrels of the burden. The final deal is a surprise, since discussions had earlier centered on a proposed output reduction from OPEC and its allies of about 1 million barrels a day, with OPEC cutting 650,000 barrels of the total, according to delegates.While ministers met Wednesday, Trump tweeted that the "world does not want to see, or need, higher oil prices!"He's yet to give his view of the OPEC agreement.
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