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OPEC Talks Focus On Output Increase Of At Least 1Mn B/D

OPEC ministers will discuss a compromise production increase of around 1mn b/d above the 1 January 2003 ceiling of 23mn b/d at their extraordinary meeting in Vienna on 12 January, with Saudi Arabia laying out a case for a larger increase of above 1mn b/d to stabilize oil markets, MEESlearns. The combination of a collapse in Venezuelan oil exports since early December, the continued Iraq war premium and low...