EGYPT

Egypt Reduces Output and Keeps Prices Unchanged for November 

In a move designed to lend support to OPEC's efforts to stabilize oil prices, the Egyptian General Petroleum Corporation (EGPC) has decided to cut its oil production by 30,000 b/d from 900,000 b/d to 870,000 b/d with effect from 1 November, and to maintain its crude oil prices at current levels in November for the eighth month in a row. The prices, which were first set on 1 April, are as follows: $28.00/B for...