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Opec Discusses Falling Oil Price - Picks Price Target

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Uploaded by on Nov 30, 2008

OPEC ministers are meeting in Cairo to discuss the recent fall in oil price as Saudi Arabia identifies a price target per barrel of oil for the first time in years.

The Organization of Petroleum Exporting Countries (OPEC), which accounts for 40% of global oil production, cut output by 1.5 million barrels a day last month, but the move failed to stop prices from declining.

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