Norway to Cut Oil Exports 10%
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Associated Press
OSLO — Norway will reduce its oil exports by 10% in November and December to help stabilize the price of oil at a higher level, the Ministry of Oil and Energy announced today.
The Organization of Petroleum Exporting Countries agreed last month to reduce its aggregate output by about 3 million barrels daily in September and October. OPEC urged the world’s other major producers--especially Britain and Norway--to join the cartel in cutting production, but until today had met with little success.
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