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10 November, 04:17

What happens when opec reduces the production of oil?

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  1. 10 November, 05:21
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    If OPEC reduced output then the world supply will fall as supply falls the price will rise.
  2. 10 November, 06:58
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    If OPEC reduced output, then world supply will fall. Thus, as supply falls, the price will rise, and the profits of oil-producing countries increase.
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