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Opec threatens more output cuts

Production warning: The Opec oil cartel warned consuming nations yesterday that it will take further action to increase crude prices that have plunged by nearly 60% since reaching a peak of $147 a barrel in July.

The Opec oil cartel warned consuming nations yesterday that it will take further action to increase crude prices that have plunged by nearly 60% since reaching a peak of $147 a barrel in July.