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Crude Oil Loses Another 64 Cents As Iran Agrees To Higher Output.
Byline: By, Investor's Daily
Crude oil and other energy futures prices fell sharply Wednesday on the New York Mercantile Exchange as the market continued to react to OPEC's decision toincrease production and Iran's decision to go along with the other members of the cartel. Mexico, one of the leading oil producers not in the Organization ofthe Petroleum Exporting Countries, also plans to increase output. The expectation is that Norway on Thursday will also announce a production increase. F U T U R E S In other markets, gold and silver futures prices fell. Iran, OPEC's second-largest producer after Saudi Arabia, had refused to join inthe cartel's latest production …
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