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OPEC Keeps Oil Production High


http://gdb.rferl.org/5C47061F-37CB-4BE5-8893-9FE858008CE7_w203.jpg --> http://gdb.rferl.org/5C47061F-37CB-4BE5-8893-9FE858008CE7_mw800_mh600.jpg Oil wells near the Siberian city of Tomsk (file photo) (ITAR-TASS) June 2, 2006 -- OPEC, the group of major oil-exporting countries, has decided to keep oil output near its full capacity of 28 million barrels a day.


The group, at a meeting in Caracas, rejected a call by Venezuela to prop up prices by cutting production, which is currently at a 25-year-high.


Oil prices have more than doubled in the last three years due in part to strong demand in Asia and instability in the Middle East.


(Reuters, AP)

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