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OPEC Maintains Output, Prices Hit 4-year Low

The Organization of Petroleum Exporting Countries has decided to maintain current levels of production, despite a worldwide oil glut that has driven market prices down more than 30 percent since June. Meeting Thursday in Vienna, Austria, OPEC oil ministers decided to maintain the present output target of 30 million barrels a day. After the announcement, the price of benchmark Brent crude fell $4, to a four-year low of $73 a barrel. The OPEC meeting, widely seen as one of the most...

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