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24.10.2008, 14:21

OPEC cuts oil production in attempt to halt price slump

The Organisation of Petroleum Exporting Countries (OPEC) has decided to cut production by 1.5 million barrels a day at a meeting in Vienna. The cut is intended to halt the collapse in crude prices, which has left them more than 50 per cent lower than thei

Russia and the unfolding global recession

Published: 17 October, 2008, 08:51


There will be a global economic downturn, but there are a few factors specific to Russia that offer at least a ray of hope that it can minimize the effects locally, and get its economy into better shape for the upturn when it eventually comes.

 
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