OPEC split
Crude oil prices dropped about US4Oc a barrel from earlier highs after Kuwait and Algeria opposed an output agreement by the Organisation of Petroleum Exporting Countries (OPEC). OPEC Ministers set a 20.5 million barrel daily ceiling for the rest of the year, with the IM barrel increase being shared proportionally between all 13 member countries. North Sea Brent futures trading in London dropped to $U517.50 a barrel on Tuesday (yesterday morning, N.Z. time) — from a SUS 17.90 midday high.
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Press, 29 September 1989, Page 12
Word Count
81OPEC split Press, 29 September 1989, Page 12
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