OPEC oil ministers set a 30 million barrel a day limit on production on Dec. 14, the cartel’s first new deal on supply in 3 years. The deal confirmed a Reuters exclusive that was published days ago. In a Dec 5 story headlined “OPEC heading for deal on 30 mln bpd oil target,” Reuters reported that oil producers, at odds over supply since June, “look set at a mid-December meeting to agree a new production target that legitimizes current cartel output at 30 million barrels a day.” The story also said OPEC would be unlikely to agree on individual member quotas under the new production limit. No other news outlet was able to match the Reuters story. The story said the two leading protagonists at June’s OPEC meeting would follow guidance from the OPEC secretariat on a supply target. It…
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