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UAC voices OPEC desire to cut production, up prices

There is an initial agreement within OPEC to cut production in the coming meeting in Vienna on December 6, but the amount has not been decided yet, UAE OPEC Governor Ahmed al-Kaabi said on Tuesday.

He said that OPEC will very likely reduce production, adding that the (JMMC) technical committee at OPEC was still studying markets and will share final conclusions before Vienna’s meeting, he told the Al Bayan newspaper.

He added that the UAE is committed to any OPEC decision.

Source: Reuters

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