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Reports: OPEC May Have Deal to Cut Production, Boost Prices

Crude oil prices rose Wednesday, following reports that the Organization of Petroleum Exporting Countries had reached a deal to cut production. It would be the first such agreement in eight years. The news stories cite unnamed sources, and some of them say OPEC production would be cut from just over 33 million barrels a day to 32.5 million. OPEC accounts for about one-third of the world's oil production.  Oil prices once were above $100 a barrel, but began dropping drastically...

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