ENERGY
From Times Staff and Wire Reports
Iran Boosts Oil Output, Defying OPEC: Iran is increasing its oil production 400,000 barrels a day--to 3.5 million barrels, its oil minister said, rejecting OPEC’s decision to hold output steady to raise prices during the winter. The announcement fits with Oil Minister Gholamreza Aqazadeh’s plans to produce oil to meet demand--but not flood the market--to protest the cartel’s agreement.
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