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Broadcast: Jan 12, 2003 The Organization of Petroleum Exporting Countries has agreed to increase production to 24.5 million barrels per day to cover a shortfall of oil from Venezuela, where a six week
Over the last decade, oil production has slipped in Venezuela, even as estimates of the country's petroleum reserves have grown. Venezuela's reserves are now thought to be the world's largest, giving the country an enormous revenue potential for deca
By Sabina Castelfranco Rome 22 April 2008 OPEC Secretary General Abdalla Salem el-Badri says the cartel plans to boost its oil production targets by five million barrels a day by 2012. He was speaking on the final day of the International Energy Foru
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By Gilbert da Costa Abuja 14 December 2006 OPEC oil ministers meeting in Nigeria have agreed to cut the organization's overall production by half a million barrels a day in February, but turned down calls for more immediate cuts. Gilbert da Costa re
Saudi Arabia is signaling that it is going to boost its supply of oil on its own after failing to convince other oil producers to jointly agree to more production. Several news agencies reported Saturday that the Saudis could increase their oil produ