OPEC Pledges Another Production Cut
December 17, 2008 at 15:07 PM EST
OPEC oil ministers decided for the third meeting in a row to lower the daily oil production quota coming from the 12 member cartel. The 2.2 million barrel per day cut is the largest pledged decline in OPEC history in the face of crude oil prices that have fallen more than 70% from record highs [...]