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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Kayaker	3/10/2009 6:49:10 PM
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The plot thickens...... OPEC to cut oil output Felicity Williams March 11, 2009 12:00am OIL prices have bounced back to within sight of $US50 a barrel, after the OPEC cartel of oil-rich nations signalled it will trim production again this weekend. Saudi Arabia, OPEC's largest member, has reportedly notified Asian customers of steady roll-backs in supplies over the next two months. The news follows comments from a Kuwaiti oil official that an OPEC production cut of a million barrels per day would raise prices to over $US50 a barrel by the third quarter this year. OPEC, which has curbed production by 4.2 million barrels per day since September, is expected to decide on an additional reduction of between 500,000 and one million barrels a day when it meets in Vienna on Sunday.... news.com.au

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