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ENERGY

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From Times Staff and Wire Reports

OPEC States Cut Output: Iran and Algeria joined three fellow OPEC states in announcing cuts in oil output to help prop up sagging prices, but powerful Saudi Arabia and its allies remained silent. The moves by Iran and Algeria, called largely symbolic, followed similar small cuts by Libya, Venezuela and Nigeria intended to boost prices, which are well below the Organization of Petroleum Exporting Countries’ target of $21 a barrel. In New York, oil prices fell slightly as analysts said traders awaited moves from Saudi Arabia and the United Arab Emirates.

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