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Oil countries ‘will not cut supplies’

OIL producing countries have moved to assure world oil markets they will not cut supply levels and that they hold enough production in reserve to meet higher demand this winter.

Oil countries ‘will not cut supplies’

Mon, 16 May, 2005 - 01:00

But OPEC, which represents 11 mostly Middle-Eastern countries, said it was unlikely to raise its formal limits on output to match the current supply of 30 million barrels per day.

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