OPEC is embarking on a
last-ditch diplomatic push to reach an agreement for a cut in crude production,
with the oil ministers of Algeria and Venezuela heading to Russia to get the
group's biggest rival on board. The Organization of Petroleum Exporting
Countries will meet on Wednesday in Vienna to finalize the terms of its first
production decrease in eight years. OPEC's three biggest producers -- Saudi
Arabia, Iraq and Iran -- remain divided about how to allocate the planned
output reduction. Russia has so far resisted OPEC's request that it join the
cut. More…
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