OPEC December Crude Output Slips as Global Prices Tumble
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Oil production by the 12 OPEC nations slipped less than 1 percent in December, the first month after the group refused to cut output as crude prices tumbled, a Bloomberg survey showed.
Output by the Organization of Petroleum Exporting Countries fell 122,000 barrels a day, or 0.4 percent, to 30.239 million last month, led by declines in Saudi Arabia, Libya and the United Arab Emirates, according to the survey of oil companies, producers and analysts.