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Iran's President Tells Venezuela Oil Prices Must Rise

Iran’s President Hassan Rouhani told his Venezuelan counterpart Nicolas Maduro in a phone call that it was essential for oil-producing countries to decide to raise the price of oil and stabilize the market, Iranian state news agency IRNA said. Iran and Venezuela are members of the Organization of the Petroleum Exporting Countries (OPEC), which agreed at an informal meeting in Algeria last week to modest cuts in oil output in the first such deal since 2008. How much oil each country...

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