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twitterOil producers to cut production
Tuesday, Feb. 10, 2004 | 9:18 a.m.
ALGIERS, Algeria -- In a surprise move, OPEC will cut excess production of crude at once and lower output quotas by 1 million barrels a day effective April 1, several oil ministers said today.
The Organization of Petroleum Exporting Countries expects the combined cuts to curb its production by about 10 percent, or 2.5 million barrels a day.
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