GMAT
The Organization of Petroleum Exporting Countries (OPEC) had long been expected to announce a reduction in output to bolster sagging oil prices, but officials of the organization just recently announced that the group will pare daily production by 1.5 million barrels by the beginning of next year only if non-OPEC nations, which includes Norway, Mexico, and Russia, were trimming output by a total of 500,000 barrels a day.
The Organization of Petroleum Exporting Countries (OPEC) had long been expected to announce a reduction in output to bolster sagging oil prices, but officials of the organization just recently announced that the group will pare daily production by 1.5 million barrels by the beginning of next year only if non-OPEC nations, including Norway, Mexico, and Russia, trim output by a total of 500,000 barrels a day.
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