OPEC Output Expected to Remain Strong: OPEC...
OPEC Output Expected to Remain Strong: OPEC oil output hit a 1989 monthly high of 23.6million barrels per day in December and likely will remain strong in early 1990 despite a new production-cutting accord, a Reuters survey shows. December output by the Organization of Petroleum Exporting Countries was about 50,000 barrels per day greater than November’s 23.55 million barrels, according to the survey. Extreme cold in the United States pushed prices up sharply in late 1989, but analysts cautioned that prices here have probably peaked for the year.
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